01827 68939
info@shireleasing.co.uk
lockShire Online - Login
Twitter
LinkedIn
Shire Leasing logoShire Leasing white logo
  • About Us
    • History, Vision & Values
    • Meet the Team
    • Affiliations
    • Corporate Social Responsibility
    • Stakeholders (Section 172 Statement)
    • Career Opportunities
    • SME Finance Charter
  • Customer Finance
    • Types and Solutions
    • Vehicle Finance
      • Vehicle Solutions (existing customers)
      • Clean Air Zone Financial Assistance
        • Bath & North East Somerset
        • Greater Manchester
    • What Can Be Financed?
      • Catering | Restaurant Equipment Leasing & Finance
      • Gym Equipment Leasing & Finance
      • IT Equipment Leasing & Finance
      • Printing Equipment Leasing & Finance
      • Security Equipment Leasing & Finance
      • Air Conditioning Equipment Leasing & Finance
      • Finance For Farms
        • Farm Vehicle & Tractor Finance
        • Livestock Finance
        • Agricultural Machinery Financing | Agricultural Equipment Finance
        • Farm Diversification Funding
      • Renewable Energy Finance
    • Recovery Loan Scheme (RLS)
    • New Business Equipment Financing
    • Shire Members’ Club
    • Make a Payment
    • Testimonials / Case Studies
  • Supplier Finance
    • Services and Technology
    • Industry Specialisms
    • Training (Lead with Lease)
    • Case Studies & Testimonials
    • Supplier Support Portal
  • Blog
  • Resources
    • Resources & Guides
    • Videos
    • FAQs
    • Industry Terminology
  • Contact Us

Coronavirus Business Interruption Loan Scheme (CBILS)

The Coronavirus Business Interruption Loan Scheme is now closed to new applications

The information from our CBILS page is still available to view on this page, so customers can continue to access Scheme information as needed.

If you have a query about CBILS, or wish to discuss an outstanding application, please contact your account manager directly or use our contact form.

Recovery Loan Scheme

A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website.

Financial support for UK SMEs impacted by COVID-19

CBILS is a new scheme that can provide facilities for a range of Business Finance products directly to smaller businesses across the UK who have been adversely affected by COVID-19 and experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Shire Leasing PLC is accredited for CBILS via the British Business Bank and able to support with Asset Finance (including Sale and Leaseback/Sale and HP Back) for advances between £15,000 and £200,000 (initially to existing SME customers only, but with a view to new customers).

The CBILS scheme provides Shire Leasing and other accredited lenders with a government-backed guarantee potentially enabling Shire Leasing to provide Asset Finance and Term Loan facilities to SMEs to support their investment in new and used assets. In the absence of the CBILS scheme, those SMEs would ordinarily have difficulty raising such finance due to the impacts of COVID-19 as they would likely fall outside of the Shire Leasing and other asset finance funders’ normal appetite.

Please note: This scheme is just one of a number of measures announced by Government and 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 can be found here.

CBILS facilities from Shire Leasing

Which CBILS facilities can Shire Leasing offer?
What are the key features of Shire Leasing's CBILS Scheme?
What is Shire Leasing's eligibility criteria?
Important information
Supporting your application
How to apply with Shire Leasing
Which CBILS facilities can Shire Leasing offer?
  • Asset Finance – Asset Finance (including Sale and Leaseback/ Sale and HP Back) from £15,000 to £200,000

Not all lenders, including Shire Leasing, provide every type of finance available under CBILS.

The scheme supports a wide range of business finance facilities of up to £5m for different products, including term loans, overdrafts, invoice finance and asset finance facilities.

Businesses may choose to consider approaching other accredited lenders if they are unable to access the finance they need via Shire Leasing.

What are the key features of Shire Leasing's CBILS Scheme?
  • Finance facilities between £15k to £200k – The maximum value of a facility provided by Shire Leasing under the scheme will be £200k for Asset Finance.
  • Finance terms – Available up to 5 years for asset finance facilities.
  • No personal guarantees – Personal guarantees of any form cannot be taken under the scheme for any facilities below £250k.
  • Security – Insufficient security is no longer a condition to access the scheme, increasing the number of businesses that are eligible.
  • No guarantee fee for SMEs to access the scheme – No fee for smaller businesses
  • Interest and fees paid by Government for the first 12 months  – The Government will make a Business Interruption Payment to cover the first 12 months of interest payments, so smaller businesses will benefit from no upfront costs and lower initial repayments

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

What is Shire Leasing's eligibility criteria?

SMEs from all sectors can apply for the full amount of a CBILS facility. Shire Leasing are offering CBILS facilities initially to existing SME customers only, but with a view to new customers from within the UK.

To be eligible for a business finance facility under Shire Leasing’s CBILS, your business must:

  • Be UK based in its business activity, with turnover of no more than £45m per year
  • Generate more than 50% of its turnover from trading activity
  • Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by Shire Leasing PLC
  • Self-certify that it has been adversely impacted by the Coronavirus (COVID-19)

Please note, the following are not eligible under CBILS:

  • Banks, insurers and reinsurers (but not insurance brokers)
  • Public sector bodies
  • State funded primary and secondary schools
Important information
  • Finance is for business use customers only.
  • All finance is subject to credit status, approval, terms and conditions.
  • As with any other commercial transaction, the borrower is always responsible for repayment of the full value of any facility supported by CBILS.
  • The guarantee is to the lender, and not the small business.
  • Any queries from a business with an active or historic EFG facility, including guarantee fee collection or alterations to their repayment profile should raise them with their lender, and not with the British Business Bank.

 

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 and industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website.

For more information directly from the British Business Bank, please click here.

Supporting your application

Before making an application, you should check that you meet the eligibility criteria of CBILS and have reviewed what different lenders can offer.

It may be useful to prepare the following in advance, to help us to speed up the application.

  • The amount you would like to borrow
  • What the money is for —  so we can check that it’s a suitable business purpose and the right type of finance for your needs
  • The period over which you would like to make the repayments

You will also need to provide certain documents when you apply for a CBILS-backed facility. These requirements vary, but are likely to include:

  • Management accounts
  • Business plan
  • Historic accounts
  • Details of assets
How to apply with Shire Leasing
Existing customers – If you are an existing customer, we encourage you to contact your account manager directly to discuss your business’s requirements.
 
New customers – If you have not worked with Shire Leasing in the past, you should complete the enquiry form at the bottom of this page so a member of our team can contact you.

Quick Links

  • FAQs
  • Career Opportunities
  • Terms & Conditions
  • Privacy Policy
  • Fair Processing Notice
  • Make a Complaint

Get in Touch

Registered Office:
1 Calico Business Park
Sandy Way
Tamworth
Staffordshire
B77 4BF
CONTACT US

Shire Leasing PLC is Authorised and Regulated by the Financial Conduct Authority for certain types of consumer credit lending and credit related activities that are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. For certain types of products Shire act as a lender and a broker and for some products we act as a broker only. Our firm reference number is 313055.

Twitter
LinkedIn

 

Tel: 01827 68939
Email: info@shireleasing.co.uk

Registered in England and Wales
No02476571

VAT registered 558 894 080

Registered with the Information Commissioners Office Z4611407

HomeAbout UsBlogContact Us
© 2017 All rights reserved. Site by Catalyst
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
SAVE & ACCEPT