CBILS SME Checklist
IMPORTANT: This is a checklist to help you understand if you may be eligible to apply for a
CBILS-backed facility. Lenders will need further information to confirm your eligibility, this is
simply a quick reference guide and is not a confirmation of approval.
Please note: All lending decisions remain fully delegated to accredited lenders.
Eligibility questions
Please make sure you can answer YES to the following questions 1-4,
Y for Yes
N for No
and complete the checklist before applying to your lender:
1. Are you a sole trader, a partnership or an individual acting on behalf
of a company or a company?
2. Is your business based in the UK?
3. Does your business (or group of businesses) have a turnover
of no more than £45 million?
If your business is part of a group, controlled on either a legal or de facto basis, the maximum turnover
applies to the group undertaking. More than one company within the group can be considered for a
CBILS facility but only if the consolidated group turnover does not exceed the £45 million annual turnover
threshold. The qualifying period is 12 months preceding application. If your business is part of a group, you
may be required to provide additional information around the structure of your business.
4. Does your business generate more than 50% of its turnover from
trading or commercial activity in the UK?
Trading activity” means any trading or commercial activity that generates turnover (whether or not it is
carried on with the intention of making a profit and whether or not turnover is generated by exports). This
criteria will not apply if you are a further educational establishment, or a registered charity.
Invoice or asset finance facilities under £30,000
5. Are you looking for an invoice or asset finance loan for export activity,
for under £30,000?
Under £30,000, the facility cannot be used for certain activities outside of the UK. You will need to self-
certify that the facility is not going to be used for: an advertising campaign outside the UK; the manufacture
of a product which is only available to customers in an overseas market; the establishment of a
representative office outside the UK; or the appointment of an overseas agent; the setting up or operation
of a distribution network overseas; and directly to fulfil an export order.
6. Do you have a Bounce Back Loan? If so, you are required to re-finance
the whole of your BBLS loan amount with the CBILS loan you are intending
to apply for, if eligible.
CBILS SME Checklist
7.Is your business a “Micro” or “Small” business?
A Micro or Small business is a business that has fewer than 50 employees and less than £9,000,000
in annual turnover and/or annual balance sheet total. You will need to take into account other
entities that are your “partners” and are “linked” to you when you work out the number of
employees you have and your turnover and balance sheet.These terms have a specific meaning in
European law (in Annex 1 of the General Block Exemption Regulation(Commission Regulation(EU)
N°651/2014 of 17 June 2014).The European Union has a self-assessment tool to help you
determine this.
8. If you are applying for a CBILS facility of £30,000 or more and your business is a Micro or a
small business, is your business:
(a) subject to collective insolvency procedure under national law, or
(b) in receipt of rescue aid (which has not been repaid) or restructuring
aid (and are still subject to a restructuring plan).
Business in difficulty
If you are applying for a CBILS facility of £30,000 or more and you are not a micro or small
business, to be eligible for CBILS, you need to demonstrate that you are not a “business in
9. Is your business a “business in difficulty” ?
What does this mean in practice?
A “business in difficulty” includes businesses that:
Accumulated losses of more than half of their subscribed share capital (for limited
companies) or more than half of their capital (for unlimited liability companies);
Started, or had fulfilled the criteria to be put into, collective insolvency proceedings;
Previously received rescue aid that was yet to be reimbursed (or, in the case of a
guarantee, terminated);
Received restructuring aid, and were still under a restructuring plan; or
(where they do not meet the SME criteria) have fallen below solvency ratios for the
previous two years.
Have not been classified as an SME and has fallen below solvency ratios for the previous
two years.
For further details in relation to what it means to be a Business in Difficulty please visit our FAQs page,
which can be found here.
10. Have you received other CBILS loans that, if you were granted further
CBILS finance, would put you over the scheme’s limit of £5 million?
CBILS SME Checklist
11. Is your business:
Please choose one from list below:
A bank, an insurer or a reinsurer?
A public-sector organisation?
A state-funded primary or secondary school?
If you have answered YES to any questions numbered 8- 11, you are not eligible for CBILS.
For further information and guidance for your business, you can access the government funded Business
Support Helpline, who can help small businesses of all stages to find the right support and impartial
advice, whether you are just starting out or growing your business.
Advisers provide tailored guidance and information on schemes and publicly funded business support
programmes available in your local area and across England. The service is available via telephone, email,
webchat and social media.
You can find more information here: https://www.gov.uk/business-support-helpline
Supporting documents
You will need to provide certain documents when you apply for a CIBLS-backed facility. These
requirements vary from lender to lender, but are:
Can you provide this?
Y for Yes
N for No
Management accounts
Business plan
Historic accounts
Details of business assets
(1) The above requirements will vary from lender to lender. You might still be eligible even if you
do not have everything listed.
(2) For financing in smaller amounts, the process may be automated and so may not require the
same level of documentation.
Having a viable business
If the lender believes the uncertainty of coronavirus will affect your business’s performance over
the short to medium term, it will use its normal commercial lending criteria to:
Assess whether you have a viable business proposition, irrespective of any concerns over your
short-to-medium term business performance, due to the impact of COVID-19.
The lender may also require you to self-certify that your business has been impacted by the
Coronavirus outbreak.
CBILS SME Checklist
If you need more information
Here are some useful links for you to browse.
British Business Bank
Coronavirus Business Interruption Loan Scheme (CBILS) — general information
CBILS FAQs for businesses — answers to SMEs’ common questions
Bounce Back Loan Scheme (BBLS) — general information
BBLS FAQs for businesses - answers to SMEs’ common questions
Other government loan schemesfinance for businesses that arent eligible for CBILS
Business Finance Guide — support for businesses facing financial challenges due to
UK Finance
Support for businesses, customers, press and media — up-to-date advice and guidance UK
Business support — funding and support for businesses during the coronavirus outbreak
Coronavirus Job Retention Scheme — information about the furlough scheme
CBILS SME Checklist