ABOUT THE CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME
The Coronavirus Business Interruption Loan Scheme (CBILS) is now closed to new applications.
If you have a query about CBILS, or wish to discuss an outstanding application, please contact us in the usual way.
The Coronavirus Business Interruption Loan Scheme (CBILS) is a government initiative to help small businesses affected by coronavirus. This includes charities, housing associations and social organisations. The scheme enables lenders to provide facilities of up to £5m to organisations impacted by coronavirus.
Through CBILS, CAF Bank is able to provide loans of up to £3m to charitable organisations across the UK who are experiencing financial difficulties due to lost or deferred revenues.
To make the loans more affordable, there are no repayments for the first 12 months. You won’t be charged interest during that time or need to pay a fee to take out the loan, as the Government will cover this for you. If you want to settle the loan early, there are also no fees for full early repayment.
For term loans and overdrafts, the minimum amount a lender can offer under CBILS is £50,001.