• Maximum 70% LTV.
• A rate of 0.55% per month across all LTVs – paid by government for first 12 months.
• 1% arrangement fee – paid by government. 
• Interest charge for the first 12 months, arrangement and professionals fees may be paid by the government.
• Loans greater than £500k but below £5m.
• Loan terms up to 24 months.

• Your project is delayed, so you need more time to finish.
• You have incurred additional or unexpected costs.
• You need more time to find buyers for your development.
• You’ve decided to rent your development rather than sell the units.
• Your business requires additional funding for operations or investments.

To be Eligible for a CBILS facility borrowers must meet strict eligibility criteria:

• SME borrower must have been impacted by CV-19 and not be in an excluded sector.
• SME borrower must have a viable business proposition ignoring short to medium term concerns arising from uncertainty due to CV19.
• The borrower must be a SME – includes related or partner enterprises.
• SME turnover must be less than £45m – includes related or partner enterprises.
• SME must generate >50% of turnover from trading.
• SME must be trading in the UK and the facility is to support UK commercial activity.
• SME must not be an undertaking in difficulty at 31 Dec 2019. This includes businesses who have accumulated losses greater than 50% subscribed share capital. Reference will need to be made to statutory accounts.
• The facility must be within scheme terms:
  – the max amount of the facility must be determined by the lender to be
  – Double the annual wage bill for 2019; or
  – 25% of turnover in 2019; or
  – Self certification of liquidity needs for the next 18 months – this is the most likely to apply to UTB property customers.Whilst self-certified we will take steps to assess that a reasonable approach has been taken and record our conclusions
• The CBILS facility must be used for an eligible purpose.

Overview 

•The Coronavirus Business Interruption Loan Scheme (CBILS) is a UK government guarantee scheme established in March 2020 with the aim of assisting SMEs to access finance during the Coronavirus (COVID-19) pandemic. 

•The CBILS guarantee is provided by the UK government to us (the lender) and not to you (the borrower). 

•It enables us (the lender) to provide you (the borrower) with funding that we (the lender) might otherwise have been unable to provide, due to the Coronavirus (COVID-19) pandemic liability.

•The provision of the CBILS Guarantee does NOT remove any of your (the borrower) liability for repaying your (the borrower) CBILS-supported facility (nor, if applicable, does it reduce the liability of any personal guarantor of the CBILS-Supported Facility). 

•In the event of you (the borrower) defaulting on your (the borrower) loan repayments (for example, failing to make specific repayments as and when they fall due), we (the lender) are entitled to seek to recover the full amount outstanding from you (the borrower). 

•Any monies received by us (the lender) under the CBILS guarantee does not reduce your (the borrower) liability in any way.