GC Business Finance is proud to be a partner of Coronavirus Business Interruption Loan Scheme (CBILS). This is an unprecedented time and we appreciate business owners may be concerned about the challenges and impact COVID19 may bring. GCBF are here to support SMEs with a quick and responsible approach to finance.
CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
GCBF can support NW based businesses with loans of £50,001 - £250,000 *subject to eligibility.
CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance.
- This scheme is just one of a number of measures announced by Government and you can find full details of the temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19 here.
- FAQs about CBILS can be found here.
- You gain access to lending via this scheme but you, the borrower, remain responsible for repayment of 100% of the outstanding facility.
- We will be updating this page regularly.
To help us to make sure you're eligible, please ensure you can say yes to the below criteria before applying:
Greater Manchester Businesses
North West Businesses
|Looking to borrow between £50,001 and £250,000
||Looking to borrow between £50,001 and £100,000
|You do not have had to be declined by the bank
||You have been declined by the bank
| Your business is B2B, B2C or a social enterprise, the only sectors not supportable are banking and insurance companies and those described under Regulation EU 1301/2013 article 3
|| Your business is B2B or B2C, the only sectors not supportable are banking and insurance companies and those described under Regulation EU 1301/2013 article 3.
| Your business is based in Greater Manchester
|| Your business is based in the North West
| Your application must be for business purposes
|| Your application must be for business purposes
| You must be a UK-based SME with annual turnover of up to £45m
|| You must be a UK-based SME with annual turnover of up to £45m
| Your business must generate more than 50% of its turnover from trading activity
|| Your business must generate more than 50% of its turnover from trading activity
| Your CBILS-backed facility will primarily be used to support trading in the UK
|| Your CBILS-backed facility will primarily be used to support trading in the UK
|You wish to borrow up to a maximum of £250,000. (Finance terms are up to five years for term loans)
||You wish to borrow up to a maximum of £100,000. (Finance terms are up to five years for term loans)
For businesses who do not meet the above criteria you can see a full list of CBILS providers here and the latest government support here.
We are also still actively supporting businesses looking to grow or start up during the Coronavirus outbreak, you can find out more here.
How to Apply
GC Business Finance are currently working to ensure demand for CBILS is met with a quick and easy approach for businesses wishing to access the loans.
We have updated our application form, our team will respond within 2 working days.
For FAQs please click here.
The Coronavirus Business Interruption Loan programme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. For full details visit www.british-business-bank.co.uk/CBILS