COVID-19: Accessing Coronavirus Business Interruption Loans

We know from our conversations with many of the businesses and banks we work with there is a strong need for clarity on the detail behind the many support measures that the Government has announced in response to the COVID-19 pandemic. As details develop we are sharing what we know, so far, to assist you in accessing the Coronavirus Business Interruption Loan Scheme (‘CBILS’).

We expect most banks will have their application process refined sufficiently by the time businesses apply. In the meantime, the information below should be taken as general guidance, subject to change and there may be some differentiation between banks.

CBILS is available to businesses with a turnover of less than £45 million and who do not have adequate security to raise funding from alternative means.

For businesses with turnover in excess of £45 million please contact your usual Campbell Dallas contact.

What information will most banks require to assess your application?

While the specific detail will vary from bank to bank we are seeing common themes from most banks. We therefore encourage those businesses wishing to access CBILS to start collating the following information (in digital form) to prepare for your bank requesting them:

  • 6 months personal bank statements
  • 3 years business financial statements
  • 3 years personal tax returns
  • Last 4 business VAT returns
  • Details of other finance in the business, HP, leases etc.
  • A summary of measures you have already taken to mitigate the financial impact of COVID-19 such as:
    • Reducing staff hours/furloughed staff
    • Suppliers e.g. time to pay arrangements/securing supply chain/stocking up to meet demand
    • Arrangements with other creditors e.g. landlord and utilities
    • Accessing other CV-19 support such as tax time to pay, rates relief and grants, 80% wages grants
    • Injections of funds either through shareholder capital or alternative debt funding
  • Up to date Management Accounts showing the trading period prior to the crisis
  • A ‘Hibernation Cashflow’ – in other words the ‘cash burn’ over at least a 12 week period to 30 June 2020
  • Projections available under best and worst case scenarios for your business over the next 12 to 36 months
  • Details of how the COVID-19 crisis has impacted your business – examples could include reducing staff hours, redundancies, unable to get raw materials / stock, zero sales, footfall etc.

Not all of these items will be required, and the list is not exhaustive. Your bank may also require additional information, but we would recommend these items as a guide.

We have robust remote working from home facilities and can arrange video calls with you to discuss how we can support you. We also have secure facilities for you to share information with us confidentially and digitally.

Please get in touch with your usual Campbell Dallas contact to discuss your preparedness to obtain CBILS bank funding. We are on hand and ready to help you secure the funding you need to help you through this crisis.


The information in this update should not be regarded as financial advice. This is based on our understanding on 25 March 2020. Laws and tax rules may change in the future.