We're pleased to announce that we have now been approved for accreditation as new lender by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), to provide term loans to qualifying businesses.
The Coronavirus Business Interruption Loan Scheme, delivered through lenders accredited by the British Business Bank, 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 from £50,001 to £5m for businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Update: We are now accepting applications for CBILS loans from White Oak UK. Check your eligiblity and apply now here.
Depending on your business’s size and turnover, you'll be able to access loans of up to £5 million through White Oak UK, with a range of payment options available to customers. Businesses will pay no interest or lender levied fees for the first 12 months of the loan.
Andy Davies, Managing Director of Lease and Loan at White Oak UK said:
“White Oak UK has always worked hard to understand the financial challenges faced by small and medium sized businesses, and to deliver solutions to meet these head on. We’ve built our business on the provision of fast and effective funding, and our CBILS offering is no different.
"Customers applying for CBILS loans through White Oak UK can expect us to deliver as we always have done, working to ensure that customers get the service they need to keep their businesses moving during these difficult times. We’d urge any businesses thinking about a CBILS loan to get in touch and discuss how we can help.”
Our online eligibility checker allows business owners to check core CBILS eligibility and give an indication on whether your application is likely to be successful.