Moorgate Finance are an approved CBILS loan and asset finance broker, with multiple accredited lenders. By choosing Moorgate Finance, we will work with you to put together an application package to submit to CBILS lenders that will meet your funding requirements.
You will be allocated one of our expert CBILS account managers, who will work with you throughout the process to prepare all specific elements of your CBILS application.
Customer approaches Moorgate Finance with funding requirements
Our specialist Account Manager requests relevant information from customer
Account Manager sends off proposal to CBILS lenders
Lender decides if customer qualifies for CBILS. If accepted, Moorgate Finance will discuss offer with customer
Customer agrees loan term. Customer receives loan agreements, signs and returns
Payment is released to the customer by the lender on receipt of completed documents
British Business Bank operates CBILS via its accredited lenders. There are over 100 of these lenders currently working to provide finance. They include:
The maximum value of a facility provided under the scheme is £5 million, available on repayment terms of up to six years.
A lender can provide up to £5 million in the form of:
Your business must:
The maximum value of a facility provided under the scheme is £5 million, available on repayment terms of up to six years.
The scheme provides the lender with a government-backed, partial guarantee against the outstanding balance of the finance.
The borrower remains 100% liable for the debt.
The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied charges.
For term loans and asset finance facilities: up to six years.
For overdrafts and invoice finance facilities: up to three years.
Insufficient security is no longer a condition to access the scheme.
For all facilities, including those over £250,000, CBILS can now support lending to smaller businesses even where a lender considers there to be sufficient security, making more smaller businesses eligible to receive the Business Interruption Payment.
No personal guarantees for facilities under £250,000.
Personal guarantees may still be required, at a lender’s discretion, for facilities above £250,000, but they exclude the Principal Private Residence (PPR) and recoveries under these are capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied.
There are no guarantee fees for SMEs. Lenders pay a fee to access the scheme.
Simply fill in some basic details below and one of our CBILS specialists will be in touch to discuss your proposal.