- Borrow £50,001 to £500,000
- No upfront or early settlement fees
- Rates from 1.8%-7.4% APR
- Decision typically in 24 hours
Funding Circle is accredited by the Government-owned British Business Bank to provide loans under the Coronavirus Business Interruption Loan Scheme (CBILS). .
Borrow more for your business with a CBILS loan
Boost your cash flow, manage uncertainty or adapt and grow your business with a business loan of £50,001 to £500,000 under the Coronavirus Business Interruption Loan Scheme (CBILS).
To give you some breathing space there’s nothing to pay for 12 months. The Government will also pay the upfront fee and first year of interest, helping to reduce the overall cost.
Popular reasons to get a CBILS Loan:
- Boost cash flow
- Cover revenue gaps
- Adapt with a new product or service
- Grow your business
- Train staff
- Manage disruption
If you’re a limited company and have a loan with us already, you could apply for a Bounce Back Loan up to £50,000. Learn more
Who is eligible for a CBILS business loan?
When assessing your CBILS loan application, we consider whether you would have been approved under normal circumstances, were it not for the impact of coronavirus.
You need to meet the following criteria to be eligible for a coronavirus business loan with Funding Circle:
- UK-based business that’s been adversely affected by coronavirus
- Turnover of over £200,000
- Minimum 3 years of trading history
- Over 50% of turnover from trading activity (e.g. not from investments)
- Loan is for business purposes
- Loan is primarily for trading in the UK
When taking out a CBILS loan, the business is liable for the full loan amount. If the business is unable to repay, the scheme provides a partial guarantee to the lender, not to the business. Read more information on CBILS loans from Funding Circle. A personal guarantee is required for CBILS loans of over £250,000.
Can I still apply for CBILS if I already have a Bounce Back Loan (BBLS)?
Under scheme rules, you can’t hold a BBLS and a CBILS loan at the same time. However, if you have a Bounce Back Loan, you can still apply for a CBILS loan and, if your application is approved, you’ll then be asked to settle your BBLS loan.
How do I apply for a CBILS business loan?
It’s quick and easy to apply online and you’ll receive a fast decision to take your business forward.
Check if you qualify in 30 seconds
See if you’re eligible without affecting your credit score.
Apply online in 10 minutes
Tell us about you and your business with our simple application.
Decision in 24 hours
If approved, you’ll receive a no-obligation, personalised quote.
Your loan is funded
Once you accept, we run some final checks to process your loan and deposit the money straight into your account.
Here to help if you need us
Our UK-based team are here to help throughout your loan. If you’re already a customer and have been impacted by Covid-19, please give us a call on our dedicated line.
Please note that due to an increase in call volumes, wait times are longer than usual. We appreciate your patience.
Loan enquiries email@example.com
COVID-19 helpline 0203 966 1186
Business customer support email firstname.lastname@example.org
Open Mon-Fri, 9am-6pm
Recommended by our customers
All we do is small business lending. As a result, 9 out of 10 of our businesses would come back to us first next time.
Funding Circle was the first “marketplace lender” to join the UK’s Coronavirus Business Interruption Loan SchemeThe Financial Times, April 2020