Fillable CBILS Eligibility Form Interactive V2 190520 (Complete FS)

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CBILS Eligibility Form Interactive V2 190520 (Complete FS)

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digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
Atom & The Coronavirus
Business Interruption
LoanScheme
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 2 -
At Atom we are committed to helping
small and medium businesses through
the Coronavirus pandemic.
At Atom we are committed to helping small and medium
businesses through the Coronavirus pandemic. We have
joined the Government backed CBILS and are now able
to oer secured loans to those businesses who have been
impacted by the virus and are looking to borrow between
£100,000 and £5m.
These are dicult times, and there are lots of options
available for support. This guide will help you determine if
a CBILS secured term loan from Atom is the right choice
for you.
The information contained in this guide is correct on
the date of publication. For the latest information about
the scheme and the other support available for business
please visit the UK Government’s support for business
page:
https://www.gov.uk/government/collections/financial-
support-for-businesses-during-coronavirus-covid-19
What is CBILS?
The Coronavirus Business Interruption Loan Scheme has
been set up to oer viable businesses the option to secure
long term finance to help provide immediate cash flow
relief to help them survive through the pandemic.
The scheme includes a guarantee to Atom from the
government to cover up to 80% of the outstanding
principal balance of the loan and this guarantee will be
taken into account when pricing the loan.
Please note: The guarantee is in favour of Atom and not
the borrower.
The government will also oer a Business Interruption
Payment (BIP) to cover the first 12 months of interest
payments and any lender-levied fees, such as valuation
costs. This means businesses will, if they elect, benefit
from no upfront costs and lower initial repayments. As
part of any loan oer Atom makes, we will ask you to opt-
in to receive the BIP from the scheme. If you do not opt-in
to the BIP, you will remain liable for the interest payments
for the first 12 months and any lender-levied fees.
Please note: As with any other commercial transaction,
the borrower is always responsible for repayment of the
full value of any loan facility supported by CBILS. This
means the borrower remains liable for the full balance of
the loan at all times and will be responsible for making
all payments. Should the borrower fail to repay the loan
on time, Atom bank will seek to recover 100% of monies
owed from the borrower.
Atom bank has joined the scheme and is able to oer
CBILS supported loans on eligible applications for our
secured term loan product.
Eligibility Check
In order to be eligible for a CBILS backed loan with us, you
must meet the following criteria:
• your business is based in the UK
• your business has an annual turnover of up to £45
million
• your business is an SME with fewer than 250
employees
• your business has a borrowing proposal which Atom
would consider viable, if not for the coronavirus
pandemic
• you can certify that your business has been adversely
impacted by coronavirus
• You are able to provide suitable security in line with
Atom’s commercial lending policy
• Your business must generate more than 50% of its
turnover from trading activity.
• Your business must not be subject to any collections
or insolvency proceedings
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 3 -
Exceptions
The following businesses are not eligible to apply:
• Banks, building societies, insurers and reinsurers (but
not insurance brokers)
• Public-sector bodies
Key Loan Terms
Loan size: £100k to £5m (subject to assessment)
Term: Up to 6 years commitment term
Repayment type: Interest only or capital & interest. Where
you elect to take the BIP on a capital & interest loan,
we will oer a capital repayment holiday for the first 12
months.
Fees: These will include valuation and legal fees. Where
you elect to take the BIP, these will be met by the
Government.
LTV: Up to 75% available, subject to lending policy and
underwriter assessment
Security: First legal charge over suitable security (land,
property). Business guarantees may be required in some
circumstances. Personal guarantees may be requested
for loans greater than £250k. No personal guarantees
for loans under £250,000. Personal guarantees may
still be required, at a lender’s discretion, for loans
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 loan after the proceeds of business assets have
been applied.
Loan Purpose: The loan can be used for business
investment, to refinance existing debt with another lender,
and for cash flow purposes.
Maximum facility size: The loan cannot exceed the:
• 25% of the total turnover of the borrower in 2019; OR
• The liquidity needs of the borrower for the next 18
months for SMEs.
Supporting documentation: All applications will be
assessed in line with Atom’s standard commercial
underwriting guidelines. We may ask for additional
evidence to demonstrate the annual wage bill and/or total
turnover for 2019 as appropriate, in the form of accounts,
management information, or other evidence as available.
Atom bank’s commercial lending policy applies and in
all cases Atom would look to assess the borrower on its
financial performance prior to Covid-19 and whether the
business remains viable subject to the loan helping with
short and medium term cash flow issues.
Want to apply?
If you would like to apply for an Atom bank CBILS loan,
in the first instance you should contact your broker who
will discuss your business requirements with our Regional
Business Development Managers or the Intermediary
Support Team to confirm your eligibility. Once we have
confirmed you are eligible to apply, we can provide your
broker with a quote for the loan.
If you are happy to proceed on the basis of the quote,
your broker will guide you through completion of our
application forms. You will need to complete the following
forms in order to apply for the loan:
• Atom bank application form
• Atom bank CBILS supplementary form (this
document)
• Consent to search form for all parties
• Property Schedule (for any investment assets)
We will also ask you to provide the following supporting
documents when you apply:
• Latest 2 years complete accounts, including P&L
• Management accounts and trading performance
evidence for 2019, including P&L and aged debtors
and creditors list
• Evidence of payroll costs or total turnover for 2019
• If available, a copy of your business plan or response
to Covid-19.
ANY PROPERTY OR ASSET USED AS SECURITY MAY BE REPOSSESSED OR FORFEITED IF
YOU DO NOT KEEP UP REPAYMENTS ON ANY DEBT SECURED ON IT.
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 4 -
Once we have assessed your application we will let your
broker know our lending decision. If we are happy to
approve the application we will issue an Agreement
In Principle (AIP) certificate confirming the anticipated
interest rate and payment terms.
We will also issue you with a CBILS scheme letter and
the British Business Bank Data Protection and Disclosure
Declaration which you must sign and return so that we
can provide your details to the British Business Bank and
they can use it for the purposes stated in the declaration.
If you are happy to proceed to get a full oer of loan you
will need to sign and return the AIP certificate via your
broker. We will then value the security oered as part of
your application.
Once we have confirmed the security oered is suitable
we will issue you with the following:
• Loan Agreement: This document provides all the legal
terms for your loan, including loan amount, interest
rate, conditions to be satisfied for draw down and
confirmation of the security you are providing for the
loan.
• CBILS Side letter to the loan agreement: This will
detail the CBILS-specific provisions applying to your
loan.
• Atom bank commercial loan terms and conditions
• Business Interruption Payment Oer Letter: You must
sign and return this letter to us if you wish to accept
the oer from the government to pay the interest
due over the first year of the loan together with
certain fees. If you do not return this letter you will be
expected to pay the interest and will be liable for any
fees incurred for the loan, including valuation fees.
Once we have issued a loan agreement your solicitor will
complete the legal work required and send you the funds
as quickly as possible.
Not eligible for CBILS?
If you don’t meet the eligibility requirements for an
Atom bank CBILS loan, you may be eligible for other
government backed loan schemes from other lenders.
Please speak to your broker about your options.
Get in touch
Atom bank CBILS loans are only available via brokers and
you should discuss your options with your broker in the
first instance.
Your broker can discuss new cases with our TBDMs on
03333 99 00 60. They are available Monday to Friday,
9am - 5pm.
Alternatively, they can call their Regional Business
Development Manager. They’ll be happy to assist you both
in any way they can.
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 5 -
Broker Name:
Broker Firm:
Broker Email:
Business Name:
Primary Contact Name:
Primary Contact Email address:
Role in business:
Broker phone number:
Primary Contact telephone number:
Atom bank CBILS Supplementary
Application Form
Please complete this form when submitting an application for a CBILS backed secured loan with Atom bank.
Until this form is provided we will not be able to assess the application.
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 6 -
Loan Size:
Please tick to confirm that:
Term requested: (years)
2019 annual wage costs:
2019 total turnover:
Repayment Type:
Capital and interest
Interest only
Your business has been adversely
impacted byCovid-19
Your business is based in the UK
Your business has an annual turnover of
up to£45million
Your business has a borrowing proposal
which Atom would consider viable, if not
for the coronavirus pandemic
You are able to provide suitable security
for a secured loan in line with Atom’s
commercial lending policy
Your business generates more than 50%
of its turnover from trading activity
Your business is not be subject to any
collections or insolvency proceedings
Your business was not an undertaking in
diculty on 31 December 2019
Please provide details of how your business has been impacted by Covid-19:
What action have you taken to protect your business as a result of Covid-19:
digitalmortgages.net
CBILS Eligibility Form_13/05/20_v1.0
- 7 -
Date:
Signature:
Print Name:
What do you foresee as the medium and long term impacts on your business:
What will you use the CBILS funding for:
Have you applied for or received any other government support (job retention scheme,
grants, business rate relief etc), please provide details:
ANY PROPERTY OR ASSET USED AS SECURITY MAY BE REPOSSESSED OR FORFEITED IF
YOU DO NOT KEEP UP REPAYMENTS ON ANY DEBT SECURED ON IT.
Business Name:
Role in business:
click to sign
signature
click to edit
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CBILS Eligibility Form_13/05/20_v1.0
Atom & The Coronavirus
Business Interruption
LoanScheme
The Coronavirus Business Interruption Loan Scheme
(CBILS) is managed by the British Business Bank on behalf
of, and with the financial backing of the Secretary of State
for Business, Energy and industrial Strategy (BEIS)
Full details on CBILS and the list of participating CBILS
lenders can be found on the British Business Bank website
at: www.british-business-bank.co.uk/CBILS
Any queries from a business with an active or historic EFG
facility, including guarantee fee collection or alterations
to their repayment profile should raise them with their
lender, and not with the British Business Bank.
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CBILS Eligibility Form Interactive V2 190520 (Complete FS)

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Completed 5 April 2021

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