We frequently hear from our clients that the CBILS loan scheme is slow and cumbersome. Previous advice directed applicants to first go to their bank, whilst this makes perfect sense due to the existing relationship it often results in incomplete CBILS applications and the process is slower than it necessarily could be.

We are helping our clients using open banking through one of our partner organisations, this allows applicants to submit their CBILS applications to ALL CBILS lenders not just the handful of major banks, it also allows applicants to tap into the full range of funding and finance options available.

A complete CBILS application will need to demonstrate the following.
·       that the business was viable before COVID-19 (up until March 2020)
·       the effects of COVID-19 on trading (the cash impact on the business and the effects of the various relief options as well as this funding application on the cash forecast)
·       how the business will trade post COVID-19 (speed of recovery and the ability to meet loan requirements)


  • 12-months minimum trading; 50% of revenues from trading; eligible sector
  • Affordability and viability rules based on metrics eg accumulated losses cannot be >50% of share capital
  • Cash available to service debt up to March
  • Amount maximum 2 x annual average wage bill or 25% of turnover

As a minimum, the following documents should accompany any application for it to be processed timely, meet all lenders requirements, and have a good chance of success.

  • Full set of accounts P&L, cash flow and balance sheet for last 3 financial years (if trading for less than for years of trading)
  • Management accounts year to date
  • 12-month, cash flow, P&L and balance sheet forecast, complete with COVID-19 impact scenario and impact narrative
  • Last 6-months bank statements

As a rule of thumb, annual capital and interest repayments should have at least 1.5 times EBITDA headroom. We help our clients with the preparation of COVID-19 impact scenarios and narrative, as well as forecast, submit the application to the portal for assessment and return matches to lenders to allow them to choose the most favourable terms or use to negotiate with their current lender.

For further information please contact