Page 1 of 9
11423a CBIL Lloyds-0420
Description
The Product Description:
• The Coronavirus Business Interruption Loan (CBIL) Scheme is a UK Government
backed loan guarantee scheme.
• The scheme is intended to allow businesses negatively impacted by Covid-19 who
meet the criteria for the CBIL scheme to borrow.
• The Department for Business Energy and Industrial Strategy (BEIS) provide the Bank
with a limited guarantee of up to 80% of the capital of eligible CBIL. The borrowing
business however remain 100% liable for the debt, including any accumulated
interest even if the Government guarantee has paid out.
• Unlike the Enterprise Finance Guarantee (EFG) Scheme, no guarantee fee is payable
to the UK Government under the CBIL Scheme.
• Limited refinancing of loans and overdrafts is allowed, subject to specific rules.
Eligibility
Your business may be eligible if it:
• has been negatively impacted by the outbreak of Covid-19 (e.g. reduced cash flow).
• is based in the UK.
• is trading.
• has been running for over 12 months and has a turnover of no more than £45 million
in the last 12 months
or
has not been running for over 12 months and has an expected turnover of no more
than £45 million for its first 12 months of business activities.
• does not exceed the European Community State Aid maximum, as a result of taking
out a CBIL.
• does not operate in an ineligible or excluded sector.
• has a viable borrowing request, and meets our normal viability criteria.
• is able to attest to one of the three following tests (this information will be used to
assess the business’ liquidity needs and determine the amount of the loan you are
entitled to):
(i) the annual wages bill of the business (including social charges as well as the
cost of personnel working on the business’ site but formally in the payroll
of subcontractors) for 2019, or the last year available. If the business was
established on or after 1 January 2019, the business will need to provide an
estimated annual wage bill for the first year of its operation;
(ii) the turnover of the business in 2019; or
(iii) the liquidity needs of the business from the moment the loan is granted for the
coming 18 months (or for the coming 12 months, if the business has more than
250 employees). The business liquidity plan may include both working capital
and investment costs.
Viability
• The business needs to demonstrate that it will be able to meet all its repayment
obligations, including repayment of the proposed CBIL.
Coronavirus Business Interruption
Loan (CBIL) Scheme
Product Profile
• The business needs to demonstrate that it has a viable business proposition, which
will be assessed according to our lending criteria.
• CBIL will only be considered where a conventional facility for the same amount could
not be oered because there is no or insucient lending security
.
CBIL will be considered if:
• The finance will help the business trade out of any short to medium term cashflow
diculties and
• If the facility is granted the business should not go out of business in the short to
medium term.
Viability will be considered in relation to future trading expectations and business plans.
Suitability
CBIL is suitable for businesses that:
• need a loan for working capital, expansion project, diversification or development.
• need a loan for more than £250,000 but do not have sucient lending security to
meet conventional lending requirements, or
• need a loan for less than £250,000 which would not have been provided without the
availability of the CBIL Scheme.
Sector Restrictions
Restrictions apply in the following sectors:
• Agriculture
• Aquaculture
• Fisheries
Further details on eligible and excluded sectors can be found at:
https://www.british-business-bank.co.uk
Product Summary
The CBIL Scheme is suitable for eligible and viable businesses that have been impacted by
Covid-19.
You may be able to borrow up to £250,000 on an unsecured basis under the CBIL Scheme.
If you have assets with partial lending security
, we will look at a combination of secured and
unsecured lending and may consider CBIL lending.
If you have no assets we can look to for lending security
, we will consider unsecured lending
and may consider CBIL lending.
If you use the CBIL Scheme for all or part of your borrowing needs we:
• may still require a 100% personal guarantee for loans over £250,000 along with a
debenture when the borrowing is to be taken in the name of a limited company or LLP.
• will take a lending charge over any other allowable personal asset (e.g. investment
property) or business asset (e.g. premises) you have, even if they do not presently
have lending value based on normal commercial terms.
• will NOT take a charge over your personal private residence in respect of the CBIL
borrowing as this is not permitted under the scheme rules.
For Business Banking customers
CLEAR ALL FIELDS
Page 2 of 9
11423a CBIL Lloyds-0420
Terms of Loan Criteria
• Loans from £25,001 to £5,000,000, (subject to lending criteria, including your annual
wage bill and total turnover) from one to six years.
• Arrangement Fees apply (however you will not be required to pay this as you will
signup to the Business Interruption Payment (“BIP”) oer letter).
• No guarantee fee is payable on the CBIL facility.
• You will not have to pay any interest, fees or charges for 12 months from the initial
draw down of the facility if you’ve confirmed in writing that payment of a BIP can be
made to us directly by the Secretary of State.
• PLEASE NOTE: You will start paying interest, fees and charges on your loan after
the initial 12 months (if your loan term is longer than 12 months).
• You will also benefit from 6 months’ capital repayment holiday from the start of
the facility.
• PLEASE NOTE: You will start repaying capital on your loan after the initial
6 months.
• Funds must be used for the purpose stated in the application.
• Limited refinancing is possible and specific rules apply.
• Additional Capital Repayment Holidays may be available and must be taken in 3
month blocks for up to a maximum of 6 months immediately after the initial 6 month
capital repayment holiday.
• The Bank reserves the right to request documentary evidence to support the use of
CBIL funds post loan drawdown.
• If the business fails to repay the loan and is completely unable to do so, the Bank will
claim the whole outstanding debt plus interest under any personal guarantee (if your
loan is for an amount over £250,000) or other guarantee held. All possible steps will be
taken to achieve repayment.
Product Profile continued
• If, after all possible eorts to achieve repayment by the business have been
exhausted, and the Bank still has some or all of the capital not repaid, the Bank can
ask the UK Government to honour its guarantee and pay back a proportion of the debt
(although there is an overall cap on how much the Bank can claim in any scheme year,
so the Bank may only receive part or nothing of what it claims).
• Notwithstanding the limited guarantee from the UK Government, the business will
remain liable for 100% of the debt, including any accumulated interest.
• If the Bank is able to obtain repayment or partial repayment from the business
even after the UK Government payment the Bank must take that payment from the
business and will divide it between the Government and itself in proportion to the
amounts paid under the guarantee claim.
For borrowing needs of less than £25,001 please contact your Business Manager, who will be
pleased to discuss our overdraft and unsecured lending facilities.
All lending is subject to a satisfactory credit assessment and the Bank will need your
permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably aord to repay now and in
the future to avoid the possibility of legal action.
PLEASE NOTE: The customer will remain liable for 100% of the debt, including any
accumulated interest even if the Government guarantee has paid out.
† Lending Security
Lending security is the value of both personal (e.g. investment property etc.) and business
assets (premises, stock, debtors etc.). We look at the available value i.e. after taking account
of any other borrowing secured on those same assets.
• AUKbusiness,borrows£100,000fromtheBankasa6yearloanundertheCBIL
Scheme.
• Twoyearslaterthebusinessfailswith£80,000stillowedunderthisloan.
• TheBankpursuesthecustomerfortheoutstandingdebtof£80,000.
• Afteralloptionsareexplored,£50,000isclaimedbytheBankfromthecustomer,
leaving £30,000 outstanding.
Example of how the guarantee works
• TheBankthenmakesaclaimundertheCBILSchemefromtheUKGovernmentand
£24,000 of the £30,000 remaining debt is paid to the Bank (80% of the remaining debt
is the maximum which might be paid under the scheme).
• TheBankcontinuestolookforrepaymentofthe£30,000fromthecustomer.When,
subsequently, the customer is able to pay £20,000 the Bank collects this and refunds
£16,000 of it (80%) to UK Government – in line with the 80% paid by the Government.
• Thecustomerremainsliableforthe£10,000stilloutstanding.Ifthisweretoberepaid
it would also be split with the Government in line with the guarantee claim.
The Lender is proposing to make available to the Applicant a loan facility under the
Coronavirus Business Interruption Loan (CBIL) Scheme. This is a Government backed
scheme that gives the Lender a guarantee from the Secretary of State, subject to certain
terms and conditions, in place of the security, which the Lender would normally expect a
borrower to provide.
To enable us to confirm your entitlement to the CBIL you will need to provide and certify
the accuracy of certain information about your business. (Please refer to Section 19 for
furtherguidance).
The Product Profile description must be read and understood by all Applicants.
The following sections must be completed by your Business Manager either during the
discussion if face to face, or following discussion if discussed over the phone, and before you
complete this Declaration form:
• Sections 5 & 7 (in all cases)
• Sections 8 (only if applicable)
Introduction1
Customer details (To be completed by Customer)2
Director/Partner/Sole Trader details (To be completed by Customer)3
The following sections must be completed by You, the customer:
• Sections 2, 3, 4, 6, 9 & 15
• Please ensure that you read and fully understand Sections 13, 14 before completing,
signing and dating Section 15
Please note, the following sections are for internal use only and will be completed once your
Business Manager has received this form back from You and the relevant customer sections
have been reviewed and are complete:
• Sections 10, 11, 12, 16, 17 and 18
Important: If you are purchasing an existing business, your Business Manager will ask
you to obtain certain information from the vendor, which will be needed to enable you
to complete this Declaration form.
Business and/or trading name
Branch sort code Account number
Contact name(s) and title that paperwork will be addressed to
Postcode
Contact address (if dierent to Trading address where all CBIL paperwork will be forwarded)
Postcode
Trading address
Company/LLP registration number
Business activity (please give precise description)
SIC Code (obtainable from Oce of National Statistics website)
Please indicate the legal status of the business:
What was the turnover for the business in
the 12 months to the date of this application
(maximum £45 million)?
Sole Trader Partnership
Limited Liability Partnership Limited Company
Unlimited Company PLC
Amount (£)
D D M M Y Y
Enter date on which the business
commenced trading:
Position in business: Position in business:
Position in business: Position in business:
Sole trader Sole trader
Sole trader Sole trader
Partner Partner
Partner Partner
Director Director
Director Director
Other (please specify) Other (please specify)
Other (please specify)
Other (please specify)
Full name Full name
Full name Full name
Title Title
Title Title
Mr Mr
Mr Mr
Mrs Mrs
Mrs Mrs
Miss Miss
Miss Miss
Ms Ms
Ms Ms
Contact telephone number
Email
Page 4 of 9
11423a CBIL Lloyds-0420
CBIL and Enterprise Finance Guarantee (EFG) borrowing (do not include any SFLG borrowing) (To be completed by Customer)
4
Enter the total outstanding balance on all facilities granted under CBIL or EFG (whether by us or any other lending or financial institution
participating in CBIL or EFG).
Enter the total amount of CBIL now being requested (including any fees added to the loan).
Total CBIL and EFG borrowing (A+B) (which must not exceed £5,000,000 outstanding at any one time).
Amount (£) (A)
Amount (£) (B)
Amount (£)
Loan details (To be completed by the Business Manager)7
Initial Capital Requirement
Total security fees
Arrangement fee
Valuation fee
Total sanctioned loan including fees where
added (must not exceed £5,000,000
including outstanding balances on other
facilities granted under CBIL and/or EFG)
Does an RMC exemption apply?
Please indicate if the following fees are to be added to the loan:
Amount (£)
Amount (£)
Amount (£)
Amount (£)
Amount (£)
Investment Property Loan
exemption (IPL)
2nd Charge
Business Loan
Margin: Variable rate margin
%
Loan Purpose
(minimum 1 year, maximum 6 years)
Term of loan
Months
At the outset, a Variable rate will apply to your loan. Whilst the Variable rate margin is known
at the outset, the Bank of England Bank Rate is variable. This means the interest rate which
applies is the Variable rate margin plus the Bank of England Bank Rate that is applicable at
that time.
PLEASE NOTE: Within 12 months of signing up to this agreement, your Relationship
Manager will be in touch to discuss the options available in relation to your interest rate
which may include moving to a Fixed Rate margin plus the Cost of Funds. The Cost of
Funds which will be added to the Fixed rate margin will be confirmed to you. This rate
will remain the same during the life of your loan.
Other BIPs or payments you receive under the temporary framework5
You are required to attest to whether your group of companies are already in receipt of any other BIPs under the CBIL Scheme, and whether you are receiving any other direct grants,
repayable advances, tax or payments advantages under the Temporary Framework (“Qualifying Payments”) as part of your origination process (the Temporary Framework can be found here -
https://ec.europa.eu/competition/state_aid/what_is_new/sa_covid19_temporary-framework.pdf).
If you are in receipt of any of these, please include details here:
Financial information about your business6
Please tell us at least one of the following:
1 the annual wages bill of your business (including social charges as well as the cost of
personnel working on the business’ site but formally in the payroll of subcontractors)
for 2019, or the last year available. If your business was established on or after 1 January
2019, you can provide an estimated annual wage bill for the first year of operation;
2 the turnover of your business in 2019; or
3 the liquidity needs of your business from the moment the loan is granted for the
coming 18 months (or for the coming 12 months, if your business has more than
250 employees). Your business liquidity plan may include both working capital and
investment costs.
Please add details
0
Capital repayment holiday details (To be completed by the Business Manager)8
Page 5 of 9
11423a CBIL Lloyds-0420
Diarised to instruct
Securities Centre
Business purchase (Including Franchises) (To be completed by the Customer)9
If the loan is to buy another business or franchise, what is the full name of that business
D D M M Y Y
What date did that business
commence trading?
Has that business received any other BIPs under the CBIL Scheme or
Qualifying Payments?
Yes No
If yes, what is the total amount in Euros (€)
Business assets (To be completed by the Relationship Director/Manager)10
List existing business related assets held as security
(details will be quoted on the new CBIL agreement)
Directors
Sole Trader/Partners
If Yes, please provide details of any assets charged or to be charged below:
If Yes, please provide details of any assets charged or to be charged below:
Director’s guarantee given?
(A directors guarantee must be given for 100% of the lending plus fees)
Are any assets to be charged as security?
Yes
Yes
No
No
Supported? Note a charge over the personal private
residence is not permitted under the CBIL Scheme
Debenture/Bond & Floating Charge:
(required for all LLPs/LTD companies)
Please note: Any additional capital repayment holiday must be taken in 3 month blocks up to a maximum of 6 months immediately after the initial 6 month capital repayment holiday.
Capital repayment holiday requested? Yes No
Length of capital repayment holiday (in months) 3 6
Held
Page 6 of 9
11423a CBIL Lloyds-0420
Charge over Business/Investment Premises (To be completed by the Business Manager)11
Postcode
Address
Postcode
Address
Held
Held
Diarised to instruct
Securities Centre
Diarised to instruct
Securities Centre
Leasehold
Leasehold
Freehold
Freehold
Given by: Name
Given by: Name
D D M M Y Y
Date of charge (held security only)
D D M M Y Y
Date of charge (held security only)
Postcode
Address
Postcode
Address
Held
Held
Diarised to instruct
Securities Centre
Diarised to instruct
Securities Centre
Leasehold
Leasehold
Freehold
Freehold
Given by: Name
Given by: Name
D D M M Y Y
Date of charge (held security only)
D D M M Y Y
Date of charge (held security only)
Assignment of Life Policy (To be completed by the Business Manager)12
Life policy company name Policy number
Lives assured
Sum insured (£)
Held
Diarised to instruct
Securities Centre
Representations and Warranties13
The Applicant represents and warrants to the Lender and the Secretary of State:
(i) that the information given in this Declaration, the Application and any documents
submitted in connection with it is true, complete and accurate in all respects as at
the date of this Declaration and that the Applicant is not aware, having made due
and proper enquiry in respect of the same, of any facts or circumstances which would
adversely aect the decision of whether or not to provide finance to the Applicant;
(ii) that full information with supporting evidence has been given in, and submitted with,
this Declaration and Application to enable the Lender to carry out a full and proper
commercial appraisal; and
(iii) that the Applicant has applied to the Lender for a loan facility for the proposal detailed
in the Application, but that no such loan facility could be agreed because the Applicant
has no available or insucient security. The Lender as an alternative means of
financing the proposal oered a CBIL facility.
Page 7 of 9
11423a CBIL Lloyds-0420
Data Protection and Disclosure Declaration14
Use of Business information
When businesses apply for, or hold, products or services provided by us, we may acquire and process information relating to the business as well as personal data of individuals associated
with the business. More information about how we use business information is available at www.lloydsbank.co.uk/businessprivacy
Privacy Notice
Who looks after your personal information
Your personal information will be held by Lloyds Bank plc which is part of the Lloyds Banking
Group. More information on the Group can be found at www.lloydsbankinggroup.com
How we use your personal information
We will use your personal information:
• toprovideproductsandservices,manageyourrelationshipwithusandcomplywithany
laws or regulations we are subject to (for example the laws that prevent financial crime or
the regulatory requirements governing the products we oer).
• forotherpurposesincludingimprovingourservices,exercisingourrightsinrelationto
agreements and contracts and identifying products and services that may be of interest.
To support us with the above we analyse information we know about you and how you use
our products and services, including some automated decision making. You can find out
more about how we do this, and in what circumstances you can ask us to stop, in our full
privacy notice.
Who we share your personal information with
Your personal information will be shared within Lloyds Banking Group and other companies
that provide services to you or us, so that we and any other companies in our Group can look
after your relationship with us. By sharing this information it enables us to better understand
our customers’ needs, run accounts and policies, and provide products and services
eciently. This processing may include activities which take place outside of the European
Economic Area. If this is the case we will ensure appropriate safeguards are in place to
protect your personal information. You can find out more about how we share your personal
information with credit reference agencies below and can access more information about
how else we share your information in our full privacy notice.
Where we collect your personal information from
We will collect personal information about you from a number of sources including:
• informationgiventousonapplicationforms,whenyoutalktousinbranch,overthe
phone or through the device you use and when new services are requested.
• fromanalysisofhowyouoperateourproductsandservices,includingthefrequency,
nature, location, origin and recipients of any payments.
• fromorthroughotherorganisations(forexamplecardassociations,creditreference
agencies, insurance companies, retailers, comparison websites, social media and fraud
prevention agencies).
• incertaincircumstanceswemayalsouseinformationabouthealthorcriminal
convictions but we will only do this where allowed by law or if you give us your consent.
You can find out more about where we collect personal information about you from in our
full privacy notice.
Do you have to give us your personal information
We may be required by law, or as a consequence of any contractual relationship we have, to
collect certain personal information. Failure to provide this information may prevent or delay
us fulfilling these obligations or performing services.
What rights you have over your personal information
The law gives you a number of rights in relation to your personal information including:
• therighttoaccessthepersonalinformationwehaveaboutyou.Thisincludes
information from application forms, statements, correspondence and call recordings.
• therighttogetustocorrectpersonalinformationthatiswrongorincomplete.
• incertaincircumstances,therighttoaskustostopusingordeleteyourpersonal
information.
• from25May2018youwillhavetherighttoreceiveanypersonalinformationwehave
collected from you in an easily re-usable format when it’s processed on certain grounds,
such as consent or for contractual reasons. You can also ask us to pass this information on
to another organisation.
You can find out more about these rights and how you can exercise them in our full
privacynotice.
Other individuals you have financial links with
We may also collect personal information about other individuals who you have a financial
link with. This may include people who you have joint accounts or policies with such as
your partner/spouse, dependents, beneficiaries or people you have commercial links to, for
example other directors or ocers of your company.
We will collect this information to assess any applications, provide the services requested
and to carry out credit reference and fraud prevention checks. You can find out more about
how we process personal information about individuals with whom you have a financial link
in our full privacy notice.
How we use credit reference agencies
In order to process your application we may supply your personal information to credit
reference agencies (CRAs) including how you use our products and services and they will
give us information about you, such as about your financial history. We do this to assess
creditworthiness and product suitability, check your identity, manage your account, trace
and recover debts and prevent criminal activity.
We may also continue to exchange information about you with CRAs on an ongoing basis,
including about your settled accounts and any debts not fully repaid on time, information on
funds going into the account, the balance on the account and, if you borrow, details of your
repayments or whether you repay in full and on time. CRAs will share your information with
other organisations, for example other organisations you ask to provide you with products
and services. Your data will also be linked to the data of any joint applicants or other financial
associates as explained above.
You can find out more about the identities of the CRAs, and the ways in which they use and
share personal information, in our full privacy notice.
How we use fraud prevention agencies
The personal information we have collected from you and anyone you have a financial link
with may be shared with fraud prevention agencies who will use it to prevent fraud and
money laundering and to verify your identity. If fraud is detected, you could be refused
certain services, finance or employment. Further details of how your information will be used
by us and these fraud prevention agencies, and your data protection rights, can be found in
our full privacy notice.
How we share personal information about insurance products
If you apply to us for insurance, we may pass your details to the relevant insurer and their
agents. If a claim is made, any personal information given to us, or to the insurer, may be put
onto a register of claims and shared with other insurers to prevent fraudulent claims.
Our full privacy notice
It is important that you understand how the personal information you give us will be used.
Therefore, we strongly advise that you read our full privacy notice, which you can find at
www.lloydsbank.co.uk/businessprivacy or you can ask us for a copy.
How you can contact us
If you have any questions or require more information about how we use your personal
information please contact us on 0345 602 1997 or at
secure.lloydsbank.com/retail/contact_us/how-we-can-help.asp
Lloyds Banking Group has a Group Data Privacy Ocer, who you can contact on
0345 602 1997 (+44 1733 347 007 from outside the UK) and tell us you want to speak to
our Data Privacy Ocer.
Version Control
This notice was last updated in January 2018.
Customer Acknowledgement and Signature(s)15
Page 8 of 9
11423a CBIL Lloyds-0420
Introducing Business Manager’s details (To be completed by the Business Manager)16
Business Manager’s name
Business Manager’s contact number (Mobile)
RBB
BBM
SMC Team:
SME
SBC
Business Manager’s e-mail address
* delete as appropriate
The Applicant acknowledges that:
(i) in the event that a loan facility under the CBIL Scheme is made available to the
Applicant the Applicant will be required on a continuing basis to provide further
information and supporting evidence to the Lender and the Secretary of State to
enable them to monitor the performance of the Applicant’s business, and
(ii) this Declaration is given for the benefit of both the Lender and the Secretary of State
and that the Lender and the Secretary of State are respectively making available the
CBIL Facility and Guarantee in reliance on the representations and warranties given by
the Applicant in this Declaration.
IMPORTANT NOTICE: If any representation or warranty made by you (the Applicant) in
this Declaration proves to have been incorrect when made, then this may result in the
Lender demanding immediate repayment of the CBIL Facility and/or the Lender and/or
the Secretary of State claiming damages from you. You should, therefore, carefully check
the accuracy of each such representation and warranty before signing this Declaration.
• I/We*conrmthatI/We*haveunderstoodtheinformationsetoutinthisdocument,includingtheproductdescription,eligibility,viability,suitabilityandsectorrestrictions,product
summary, terms of loan criteria including the government funding criteria and wish to apply for a loan under the CBIL Scheme.
• I/We*notethatalllendingissubjecttoeligibilityandasatisfactorycreditassessment,andtheBankwillneedtocarryoutacreditcheckonmeandmybusiness.
• I/We*conrmthatthefundsadvancedwillonlybeusedforthestatedpurposeandwhererequireddocumentaryevidencewillbeprovidedtotheBank.
• I/We*conrmthatintheeventofdefaultweremainliablefor100%oftheoutstandingdebt(includingaccumulatedinterest).
• I/We*notethatI/We*havebeenadvisedtotakeindependentlegaladvice.
Print name
Print name
Print name
Print name
Position held by Signatory (Director/Partner/Sole Trader)
Position held by Signatory (Director/Partner/Sole Trader)
Position held by Signatory (Director/Partner/Sole Trader)
Position held by Signatory (Director/Partner/Sole Trader)
Signed for and on behalf of the Applicant
Date
Signed for and on behalf of the Applicant
Date
Signed for and on behalf of the Applicant
Date
Signed for and on behalf of the Applicant
Date
Print name Print name
Signed by the Guarantor (if Guarantor is an individual and not a Director)
Date
Signed by the Guarantor (if Guarantor is an individual and not a Director)
Date
Please contact us if you would like this information in an alternative
format such as Braille, large print or audio.
Lloyds Bank plc Registered Oce: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.
We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS).
We are covered by the Financial Ombudsman Service (FOS).
Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
Lloyds Banking Group is a financial services group that incorporates a number of brands including Lloyds Bank.
More information on Lloyds Banking Group can be found at lloydsbankinggroup.com
Page 9 of 9
11423a CBIL Lloyds-0420
Supporting documentation (To be completed by the Business Manager)18
All documents referred to in the application must be attached.
Copy of Business Plan Financials and ALIESLoan quotations Copy of credit application
and supporting notes
CBIL sign o (To be completed by the Business Manager)17
This is a debt appropriate business that I would be prepared to lend to but for the lack of collateral and for which other options have been exhausted.
I am satisfied that this proposition meets the requirements of ‘responsible lending’ and I am willing to support the proposition.
Signature of authorised signatory
Date
Business Manager’s name
Guidance notes19
1 Commencement of Trading Date
(i) If your business is a limited company or a limited liability partnership
The Commencement of Trading Date is the date when the company/business was
first assessed for Corporation Tax.
(ii) If you are self-employed or a partnership
The Commencement of Trading Date is the date when,
• you/anyofthepartnerswererequiredtostartpayingClass2NationalInsurance
contributions;
or
• youbecameexemptfromsuchpayments.
(iii) Did you acquire the business from another person as a going concern?
The Commencement of Trading Date is the date the business (“business” includes an
existing franchise operation) started trading – not the date you took over the business.
(iv) Did you acquire the business or franchise out of receivership or administration?
The Commencement of Trading Date is the date you took over the business or
franchise – not the date the business or franchise first started trading.
2 Previous borrowing under the EFG and CBIL Schemes
The maximum total amount that can be borrowed under the CBIL Scheme is
£5,000,000 at any one time. This is subject to lending criteria, including the borrower’s
annual wage bill and total turnover.
You must add up the outstanding balance on all facilities granted under EFG and CBIL
and subtract this amount from £5,000,000 to work out how much more you may be
able to borrow.
If purchasing an existing business the applicant must also ascertain the level of
outstanding EFG and CBIL borrowing provided by any other lender.
3 State Aid
The CBIL Scheme does not operate under EU de Minimis State aid regulations, instead
it operates under the Temporary Framework for State aid measures which are in
place to support the economy in the current COVID-19 outbreak. You will no longer
be required to issue the SME with a State aid letter, nor will you have to take any de
Minimis aid into account when checking a Borrower’s eligibility for the CBIL Scheme.
SAVE FORM
Chrome Web Store
It looks like you haven't installed the Fill Chrome Extension Add to Chrome