We’re pleased to announce that Leumi UK has achieved formal accreditation by the British Business Bank (BBB) for the Coronavirus Business Interruption Loan Scheme (CBILS).
We are now able to support our customers across the UK by providing CBILS term loans and overdrafts from £50,001 to £5 million and from £1 million to £5 million for new, medium-sized businesses.
Our teams are working closely with the BBB and we look forward to supporting our eligible customers and UK business during this difficult time.
For more information on our offering, please speak to your Relationship Manager or get in touch.
About the scheme
The CBILS is designed to support the continued provision of finance to smaller UK businesses during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5 million to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the can access the funding and support they need during these challenging times.
Importantly, access to the scheme has been opened up to those smaller businesses that would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. Insufficient security is no longer a condition to access the scheme. This significantly increases the number of eligible businesses.
For full details of eligibility criteria and the list of participating lenders visit the BBB website.