CBILS – Key Considerations

Tom O’Brien, Director of Lime Advisory shares his views and key points for businesses to consider regarding the Coronavirus Business Interruption Loan Scheme (CBILS).

 Good planning is necessary to increase chances of a successful application. Here are some key considerations to help you get started:


  • Timing. This facility will take time to filter though to partners (list of partners in notes below) and then through application process.
  • Amount. How much will a business be able to borrow and will the business be able to make repayment? The coronavirus business interruption loan advice states these loans are to be 100% repayable by the business.
  • Application. A loan application requires the usual information you would expect: recent bank statements, latest management accounts, previous financial statements (year-end accounts) and usually Director information and identity checks (such as passport, utility bill).
  • Which Funder. In most cases, the major banks are only considering applications from existing customers. However, there are other funders available and we are in contact with them all. We believe other new funders will join the scheme in the coming weeks too.
  • Security. There are some reports that banks may ask for Personal Guarantees, and we believe this will relate to 20% that would not be guaranteed by government. There are ways to negotiate this though, and so advice should be sought.
  • Term and Type of finance. The advice (link below) states a variety of financial products are available within this scheme - but which one is right for your business and what term should be considered.

We at Lime can help with all of the above and provide templates for clients new and existing (even old...), with a no obligation, free consultation. We strongly advise a detailed forecast is completed, to ensure you understand the amount and type of finance you require.


We are here to help, and so get in touch, either on the phone, email or message and we will endeavour to get back to you as soon as we can. We are now open on weekends to support businesses in these unprecedented times!


Note, because we are in unprecedented times and the guidance and support information changes regularly, please ensure you have sought the most up to date information or speak to a professional advisor before acting.

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