What is CBILS?
It is a government initiative to help UK small businesses affected by Coronavirus access finance.
You can access up to £5m with the government guaranteeing 80% of the finance also paying all arrangement fees and interest for the first 12 months. Our panel of lenders has been approved for the government-backed Coronavirus Business
Interruption Scheme (CBILS) for development finance. Does your development or refurbishment project fit one of the following criteria's, whether it was owned or not before lockdown? The project was not purchased before or during lockdown but was in negotiation. Your existing development project has been paused/ delayed/ slowed down as a result of the virus. Your existing development has not started as a result of the virus.
Details for the CBILS Development Finance Loan:
Loan Size: Borrow between £250k - £5m. Term: Up to 2 Years (The first year is covered by the government). LTV: Up to 75%. Associated Fees: Interest and arrangement fees in the first 12 months are covered by the CBILS scheme.
Interest Rate: Very competitive rates with the first year paid by the Government.
Turnover: UK-based business with an annual turnover of up to £45m.
Solvency: You have not been classed as a “business in difficulty” on, or before 31st December 2019.
Experienced Professionals to Support you Throughout
Go Commercial Finance Ltd has sector experienced professionals with in-depth knowledge of all lender criteria so we are ideally placed to satisfy all client requirements.
Flexible terms to help your development become a success
Loan Size: You can borrow between £250k - £5m.
LTV: Up to 70%.
Interest and arrangement fees in the first 12 months are covered by the CBILS scheme.