The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. Please note that for term loans and overdrafts, the minimum amount a lender can offer under CBILS is £50,001. We have been accredited to provide term loans through the Scheme.

• Loans between £50,001 and £5m, available on a term up to 12 months
• No guarantee fee for SMEs to access the scheme: No fee for smaller businesses.
• 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 fees¹, so smaller businesses will benefit from no upfront costs and lower initial repayments.²
• No lender interest, arrangement and ancillary lending fees are payable for the first 12 months as they are covered by the scheme.
• The scheme does not cover, third party costs such as valuation, conveyancing or legal fees.
• The CBILS scheme has Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years. Aura Finance can offer a maximum term of 12 months.
• The scheme provides a lender with a government-backed, guarantee against the outstanding facility balance.
• A borrower's Principal Private Residence (PPR) will not be taken as security to support a Personal Guarantee or as security for a CBILS backed facility.
• The borrower always remains 100% liable for the debt.

Smaller businesses from all sectors* can apply for the full amount of the facility. To be eligible for a facility under CBILS, a smaller business must:

To be eligible for an Aura Finance Loans facility under CBILS, a smaller business must:

• Not be using any other state aid
• Be UK based in its business activity, with a turnover of no more than £45m per year.
• Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender
• Self-certify that you have been impacted by the Coronavirus
• Eligible for a CBILs loan as set out by BBB
• Required to support a business
• Security over principal residences not accepted

*The following are not eligible under CBILS: Banks, Insurers and Reinsurers (but not insurance brokers); public sector bodies, and state-funded primary and secondary schools.

• Eligible businesses can borrow between £50,001 and £5 million
• Our maximum term is 12 months
• Loan-to-Value up to 70% on a 180 day VP assumption

• Management accounts
• Business plan
• Historic accounts
• Details of business assets