UK Coronavirus Business Interruption Loan Scheme

CBILS provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak.

UK – Coronavirus Business Interruption Loan Scheme (CBILS)
 

Silicon Valley Bank (SVB) is accredited to lend under the Coronavirus Business Interruption Loan Scheme (CBILS).

We continue to support our clients through a number of our own initiatives, as well as our involvement in government backed programmes like CBILS and CLBILS.

We understand how critical it is for many innovation businesses to get access to working capital during these challenging times and we’re committed to supporting as many of our clients as possible. 

The CBILS scheme will close at the end of 2020 and we're accepting applications for lending under this programme until 11:59pm on 6 November 2020

About CBILS?
 

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS.

The scheme is part of a wider package of government support for UK businesses and employees. It provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak.

Eligible businesses can borrow from SVB between £500,000 and £5 million in term loans over a maximum of five years.

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Eligibility

 

To receive a loan from SVB under the CBILS programme, you will first need to meet certain eligibility criteria set out by the British Business Bank. If you meet this, we’ll then assess your application in accordance with SVB’s lending criteria.

It’s important to note that loan approval is not guaranteed or automatic and you’ll need to provide detailed information to determine your eligibility. We’ll then carry out a full review and credit checks.

If you’re interested in checking your eligibility, please contact your Relationship Manager or call our UK Client Services team on 0800 023 1441 or +44 207 367 7881 from outside the UK.

The government will guarantee loans under the CBILS programme but the guarantee applies to the lender and not to borrowers, so you’ll be responsible for repaying 100% of the loan.

 

UK Based

Your business has to be based in the UK. If you also operate in other countries the British Business Bank requires your business to be generating more than 50% of its group turnover from trading activity in the UK at the time you apply. 
 

Business Size

Your annual group turnover must be no more than £45 million at the time you apply.

Click here if your annual group turnover is more than £45 million as you may be eligible for CLBILS.
 

Borrowing Proposal

You need to have a borrowing proposal that, if it weren’t for the COVID-19 outbreak, would be considered viable.
 

Adversely Impacted

Your business must be adversely impacted by the COVID-19 outbreak – you’ll be asked to certify this.
 

Financial Difficulty

Unless you fall under an exception, your business must not have been considered to be in financial difficulty at the time you apply, or on 31 December 2019 if you don't meet the assessment based on the date you apply. You'll find more information about this on the British Business Bank's website, using the link above.

Additional Resources

 
Further information can be found on the following websites:
 

British Business Bank

Visit the British Business Bank's CBILS page. Learn more
 

Bank of England

Visit the Bank of England's website. Learn more
 

Industries we Serve

Learn more about the types of businesses SVB supports. Learn more

Lending for the Coronavirus Business Interruption Loan Scheme is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

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Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.

FSCS.jpg Silicon Valley Bank is covered by the Financial Services Compensation Scheme and by the Financial Ombudsman Service. In relation to the Financial Services Compensation Scheme, please ensure that you review the important information on depositor preference that affects clients of Silicon Valley Bank in the UK. Details of Silicon Valley Bank’s UK Branch remuneration policies are here.