Important information: Please note, we are no longer accepting applications for the Coronavirus Business Interruption Loan Scheme (CBILS).
British Business Bank - Coronavirus Business Interruption Loan Scheme
On 11 April 2020 the British Business Bank announced Cynergy Bank as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS). We are delighted to be included in this scheme. As a long-time advocate of entrepreneurs, we want to be able to support them through the good and bad times. Understandably the UK and global business community is facing a challenge like none we have seen in our lifetime and we are eager to do our bit in supporting our business customers in any way that we can, and this scheme will allow us to do that.
The Coronavirus Business Interruption Loan Scheme, delivered through 40+ British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow due to COVID-19 as a result of COVID-19.
It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities.
Following the launch, the Coronavirus Business Interruption Loan Scheme has been significantly expanded meaning an increased number of smaller businesses across the UK impacted by the Coronavirus crisis can access the funding they need.
Cynergy Bank is committed to supporting our eligible customers as they tackle the challenges posed by COVID-19.
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 and the list of participating CBILS lenders can be found on the British Business Bank website at: http://www.british-business-bank.co.uk/CBILS