Arkle Accredited To Coronavirus Business Interruption Loan Scheme

Arkle is accredited to the Coronavirus Business Interruption Loan Scheme (CBILS) provided by the British Business Bank. As an asset financier Arkle is permitted to deploy this scheme for the acquisition of equipment for businesses.

The Coronavirus Business Interruption Loan Scheme (CBILS), launched on 23rd March 2020, supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. It can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website and contains all the key details:

  1. FAQs for SMEs: Download SME-focused CBILS FAQs

  2. Eligibility Checker: Download Quick Eligibility Checker

  3. CBILS infographic: Download CBILS Infographic

Key Features:

  • No guarantee fee for SMEs to access the scheme: No fee for smaller businesses. Arkle as the Lender will pay a fee to access the scheme.
  • Interest and fees paid by Government for 12 months: The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments. 
  • The borrower always remains 100% liable for the debt.
  • Where we can offer finance on normal commercial terms without the need to make use of the scheme, we will do so.

Next Steps:

There is a lot of information and we encourage you to please take the time to review the eligibility criteria. If you have any queries relating to the scheme then please contact our team and they will revert to you as soon as possible. 

Arkle Finance is supporting the CBILS scheme through the provision of funding for business equipment requirements only.

Arkle Finance general guidance parameters:

  • Equipment Finance Only: For other products visit the British Business Bank and search for alternate financial product providers
  • Products Covered: Hire Purchase & Finance Lease   
  • Customers: UK SMEs meeting the eligibility criteria
  • Requiring: New Equipment to the Business (refinance may be considered by exception)  
  • Values: £5,000 - £500,000+VAT
  • Terms: 2-5 years
  • Business Details: UK-based with Turnover under £45m

Please note other conditions and exclusions may apply and we would request you check the links for further details.

Should you have a requirement to acquire business-related equipment, please complete our initial CBILS application form.

The Coronavirus Business Interruption Loan programme 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. For full details visit www.british-business-bank.co.uk/CBILS