The Fund

NEL Fund Managers is now an accredited lender under the Coronavirus Business Interruption Loan Scheme (CBILS). This means that we can offer government backed loans of £50,001 to £250,000 to eligible North East businesses who are experiencing lost or deferred revenues, leading to disruptions to their cash flow as a result of the Coronavirus pandemic.

What NEL can offer under CBILS:

 

About CBILS

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.

The Coronavirus Business Interruption Loan Scheme (CBILS) 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 (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS

Frequently Asked Questions

The British Business Bank have compiled responses to some of the most frequently asked questions from SMEs about CBILS.

Eligibility

To be eligible for an NEL loan under CBILS, your business must:

Process

To begin the application process please complete our online enquiry form or call the investment team on 0345 369 7007.

Who this fund has helped…