Coronavirus Business Interruption Loan Scheme (CBILS)

Haydock Finance is accredited for the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS) within Asset Finance and we are here to support your SME customers.

What is Coronavirus Business Interruption Loan Scheme (CBILS)?

The Coronavirus Business Interruption Loan Scheme (CBILS) is designed to provide financial assistance to UK SMEs that are seeing their cashflow disrupted as a result of the COVID-19 outbreak. The scheme is a part of a wider package of government support for UK businesses and employees and will be managed by the British Business Bank on behalf of The Secretary of State for Business, Energy and Industrial Strategy.

Key features of CBILS:

  • UK government guarantees 80% of the facility balance to the Lender, which may enable a ‘no’ credit decision to become a ‘yes’
  • Facility enables the SME to trade out of any short-term to medium-term difficulty
  • No guarantee fee for SMEs to access the scheme
  • No acceptance or interest fees for SMEs in the first 12 months
  • Terms are 24 to 60 months

Product offering:

New Hire Purchase

Sale & Hire Purchase Back / Refinance

Unregulated products only

Important information:

The guarantee is to Haydock Finance (“the lender”), and not the small business.

As with any other commercial transaction, the borrower is responsible for repayment of the full value of any facility supported by CBILS.

For more information, please contact your Broker Relationship Manager.

CBILS Case Studies

See how CBILS Hire Purchase and Refinance has helped these businesses release the cash that they needed…

£1 Million CBILS Refinance Fuels Expansion Plans

We received a proposal from broker partner Midlands Asset Finance to assist a bulk excavator/contracting firm with their development plans during the pandemic.

Plugging £680k into the Future of Taxis

We were contacted by broker partner Beechwood Finance with an opportunity to finance 14 electric cabs to help a London based cab company build their innovative fleet.