CBILS
With access to the Coronavirus Business Interruption Loan Scheme, Johnson Reed is here to support your business.
CBILS Deadline 31st March 2021
FOR UK BUSINESSES
TURNOVER OF NO MORE THAN £45M
BORROW BETWEEN £50K AND £250K
TERMS BETWEEN 24 AND 60 MONTHS
FOR UK BUSINESSES
TURNOVER OF NO MORE THAN £45M
BORROW BETWEEN £50K AND £250K
TERMS BETWEEN 24 AND 60 MONTHS
Coronavirus Financial Support
What is CBILS?
- New government scheme providing a range of Business Finance
products to smaller businesses affected by the Coronavirus - Johnson Reed has access to finances between £50k and £250k
- The scheme provides our panel of accredited lenders with a
government-backed guarantee, potentially enabling Johnson Reed to
provide finance facilities to SMEs to support investments in new and
used assets
What can Johnson Reed offer?
- Loan (up to £250k, 60 months & no payment/interest & capital for 12 months, from 3%)
- Asset/ equipment Finance (from 2.01%)*
- Asset Re-finance (from 2.01%)*
- Invoice Finance
-
*Government-backed
This is in addition to any CBILS loan provided by your bank
What is the process?
- Customer identifies finance requirements
- Johnson Reed proposes deal
- Lender underwrites deal
- Conditional offer subject to CBILS criteria
- Customers signs the agreement
- Funds released
What are the terms?
- The borrower remains liable for 100% of the outstanding balance, regardless of the presence of the guarantee
- If the borrower defaults on the facility (fails to make repayments as and when they fall due), the lender is entitled to seek to recover the full amount
What is the criteria?
- Minimum 2 years trading
- UK based business activity with annual turnover of no more than £45m
- Application must be for business purposes
- Business must generate more than 50% of its turnover from trading activity
- CBILS-backed facility will be used to support primarily trading in the UK
- Borrow between £50k and £250k
- Finance terms between 24 and 60 months
- Business not in financial difficulty prior to the COVID-19 outbreak
- Agreement types considered: loans, hire purchase, lease finance and asset re-finance
What information do I need?
- Last 2 years’ full accounts (full set, not abbreviated)
- Last 9 months’ bank statements (Minimum of 270 days, in PDF format)
- Names, date of births and full home address of all directors with shareholding of 25% or more
- Details of how much you want to borrow and repayment period
For more information check out our blog post.
For 20 years Johnson Reed have been funding small businesses. Never has it been more important than now to support our clients with cash-flow. We’re working tirelessly to support all our clients and increase facilities with our lending panel, ensuring a simple and fast process.
Errors and omissions excepted
Options (Finance with no PGs)
- Loan (up to £250k, 60 months & no payment/interest & capital for 12 months, from 3%)
- Asset/ equipment Finance (from 2.01%)*
- Asset Re-finance (from 2.01%)*
- Invoice Finance
*Government-backed
This is in addition to any CBILS loan provided by your bank
A great alternative to traditional finance methods
Twelve months government-supported interest
Asset finance from 2.01% (government-backed)
Accredited CBILS lending partner, working with a panel of accredited lenders
CBILS Information PDF Download here
Coronavirus Financial Support
Options (Finance with no PGs)
- Loan (up to £250k, 60 months & no payment/interest & capital for 12 months, from 3%)
- Asset/ equipment Finance (from 2.01%)*
- Asset Re-finance (from 2.01%)*
- Invoice Finance
*Government-backed
This is in addition to any CBILS loan provided by your bank
What is CBILS?
- New government scheme providing a range of Business Finance
products to smaller businesses affected by the Coronavirus - Johnson Reed has access to finances between £50k and £250k
- The scheme provides our panel of accredited lenders with a
government-backed guarantee, potentially enabling Johnson Reed to
provide finance facilities to SMEs to support investments in new and
used assets
What can Johnson Reed offer?
- Loan (up to £250k, 60 months & no payment/interest & capital for 12 months, from 3%)
- Asset/ equipment Finance (from 2.01%)*
- Asset Re-finance (from 2.01%)*
- Invoice Finance
-
*Government-backed
This is in addition to any CBILS loan provided by your bank
What is the process?
- Customer identifies finance requirements
- Johnson Reed proposes deal
- Lender underwrites deal
- Conditional offer subject to CBILS criteria
- Customers signs the agreement
- Funds released
What are the terms?
- The borrower remains liable for 100% of the outstanding balance, regardless of the presence of the guarantee
- If the borrower defaults on the facility (fails to make repayments as and when they fall due), the lender is entitled to seek to recover the full amount
What is the criteria?
- Minimum 2 years trading
- UK based business activity with annual turnover of no more than £45m
- Application must be for business purposes
- Business must generate more than 50% of its turnover from trading activity
- CBILS-backed facility will be used to support primarily trading in the UK
- Borrow between £50k and £250k
- Finance terms between 24 and 60 months
- Business not in financial difficulty prior to the COVID-19 outbreak
- Agreement types considered: loans, hire purchase, lease finance and asset re-finance
What information do I need?
- Last 2 years’ full accounts (full set, not abbreviated)
- Last 9 months’ bank statements (Minimum of 270 days, in PDF format)
- Names, date of births and full home address of all directors with shareholding of 25% or more
- Details of how much you want to borrow and repayment period
For more information check out our blog post.
For 20 years Johnson Reed have been funding small businesses. Never has it been more important than now to support our clients with cash-flow. We’re working tirelessly to support all our clients and increase facilities with our lending panel, ensuring a simple and fast process.
Errors and omissions excepted
A great alternative to traditional finance methods
Twelve months government-supported interest
Asset finance from 2.01% (government-backed)
Accredited CBILS lending partner, working with a panel of accredited lenders
CBILS Information PDF Download here
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). Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website.
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