We are accredited under the Coronavirus Business Interruption Loan Scheme (CBILS). Check your eligibility & apply today. Find out more →

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  • Apply for a Coronavirus Business Loan (CBILS)

    • Pay nothing for up to 12 months
    • Decisions in less than 24 hours
    • £70m approved already & counting

    Check if your business is eligible to apply today, even if you have been declined elsewhere.

    Check Eligibility & Apply →  

We are working collaboratively with the Government-owned British Business Bank to help UK small businesses through the Coronavirus Business Interruption Loan Scheme (CBILS).

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Welcome to the flipside of finance

White Oak UK are one of the largest independent lenders in the UK. For over 30 years, we have supported thousands of small and medium sized businesses to access fast, simple and straightforward finance and this remains our focus as a CBILS accredited lender.

We are pleased to be able to support both new and existing customers with access to CBILS funding.

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  • From £75k up to £5m
  • No interest & fees for 12 months
  • Platinum Trusted Service
  • 9/10 would recommend

What is the Coronavirus Business Interruption Loan Scheme (CBILS)?

The Coronavirus Business Interruption Loan Scheme or, CBILS, is a Government guarantee Scheme to assist small and medium sized businesses (SMEs) impacted by the coronavirus (Covid-19) outbreak to access finance. As an accredited provider, you are able to access CBILS loans with White Oak UK.

For UK-based businesses with an annual turnover of less than £45 million, loans of over £75,000 and up to £5 million are available over a maximum 2-year term. Loans remain subject to affordability and underwriting, however, there are no guarantee fees for SMEs to access the scheme.

All interest payments and fees are covered by the Government in full for the initial 12 months, allowing borrowers to benefit from access to vital funds and reduced initial repayment costs. There are also no early settlement fees.

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To be eligible to apply for a CBILS loan with White Oak UK, you will need to:

  • Be UK-based business and certify that you have been adversely impacted by COVID-19
  • Have an annual turnover of up to £45 million, 50% of which is from UK business activity
  • Have a borrowing proposal that, if not for coronavirus, would be considered viable
  • Confirm the loan will primarily be used to support UK activity and is for one of the following business uses:
    • Refinancing existing debt / debt consolidation with the same lender
    • Working capital
    • Investment purposes

Please remember that as with any other commercial transaction, you as the borrower, remain responsible for the full value of any facility supported by CBILS. Should you become unable to meet the repayments of the loan, the scheme provides a partial guarantee to the lender, not to the borrowing business.

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Whilst a business cannot access more than one BBLS/CBILS facility at the same time, it is possible to explore a replacement CBILS facility and/or supplementary funding, where the borrowing business meets the required eligibility criteria set out by the British Business Bank.

At White Oak UK, we can help you access enhanced options to further assist your business to trade through current market conditions, such as:

  • Refinancing an existing BBLS with a CBILS loan
  • Accessing further CBILS facilities for individual businesses within a Group structure
  • Additional CBILS loans where there is capacity within the maximum loan amount

Please remember that borrowing limits vary between Schemes. Please contact us for more details.

We’re not currently part of the Bounce Back Loan Scheme. However, you can apply for a CBILS loan with us over £75,000 and up to £5 million over a maximum 2-year term.

If you are not eligible for CBILS we may still be able to help you. Please contact us to discuss your requirements.

I'm not eligible for CBILS, but still need finance →

Eligible businesses can borrow from £75,000 up to £5 million over a maximum 2-year term.

Any interest payments and fees relating to a CBILS loan are covered by the Government for 12 months, allowing you to benefit from access to vital funds and reduced initial repayment costs.

Please remember that as with any other commercial transaction, you as the borrower, remain responsible for the full value of any facility supported by CBILS. Should you become unable to meet the repayments of the loan, the scheme provides a partial guarantee to the lender, not to the borrowing business.

Apply now →

If you are planning to apply for a CBILS loan, you may find it helpful to organise the following documents to submit your application.

  1. Last 3 months bank statements
    These must detail:
    • The account name and registered address (where possible)
    • Sort code and account number of the account
    • Daily transactions
  2. Latest full year accounts
    These should include:
    • Profit and loss
    • Balance sheet information
  3. Latest management accounts 
    These should be as detailed and up to date as possible and include:
    • profit and loss
    • balance sheet information
Please note, if you do not have everything listed here, a CBILS loan could still be an option. Please contact us to discuss.

For a full list of all frequently asked questions, please visit the British Business Bank website here.

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). Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website.

Personal guarantees will not be taken on loans of less than £250,000, though these may be requested for facilities exceeding this amount, subject to the Lender’s discretion. Recoveries under the scheme are, however, capped at 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied. A Principle Private Residence (or PPR) cannot be taken as security to support a personal guarantee or as security for a CBIL-backed facility.

Please note that, as with any commercial finance transaction, the borrower remains fully responsible for the repayment of any CBILS supported facility and that the 80% government-backed guarantee applies to the Lender and not the borrowing business.

What our CBILS customers are saying

In these uncertain times our clearing bank couldn't/wouldn't assist us. White Oak stepped up to the plate and were able to provide a meaningful CBILS loan to us. The help and guidance received was very helpful and we'd certainly recommend others look at White Oak if they need a helping hand.
Northumberland Homes Ltd
Was extremely happy how the process went - Adam kept us up to date all the way through and can't thank him enough.
The Edinburgh Shutter Co Ltd
White Oak understood our business and it's needs and were very quickly able to help. Efficient and businesslike.
Portobello Art Ltd

Check your eligibility and apply now

  • Enter your Details
  • Check eligibility
  • Submit application

Why Choose White Oak UK?

  • No red tape, so you can receive funds in as little as 24 hours
  • We accept 4 out of every 5 applications
  • Apply quickly and easily with E-sign loan documents
  • You’ll always speak to the same person
  • Free up cash flow for other areas of your business
  • Tailored finance agreements to suit your specific needs

Apply now →

Views from the flipside

What our customers say

We could not have been happier. Banks as usual were a nightmare - they took over six weeks to eventually refuse for vague reasons unexplained. White Oak UK were professional, helpful, friendly, and best of all, fast.

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