Two weeks ago, it was announced that we were approved for accreditation by the British Business Bank to offer secured loans through the Government-backed Coronavirus Business Interruption Lending Scheme (CBILS). We understand this is a worrying and stressful time for businesses so we’re doing what we can to help.
Here’s what I said on the initial announcement and you can read our press release here.
We’re utilising the CBILS scheme to help SMEs access finance during this time. Accredited as a CBILS lender by the British Business Bank, the scheme enables us 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 cash flow.
A CBILS loan with Atom means:
- New and existing customers can apply
- Access to secured business loans from £100,000 to £5m (subject to assessment)
- Can refinance debt from another lender
- Fee-free with capital and interest paid for the first year*
- Repayment terms up to six years
- No personal guarantee required for loans below £250k
Atom CBILS loans are available via brokers who should contact their usual intermediary support team. You can also check out the CBILS page on our website which is full of info and resources.
*Where the borrower elects to receive the Business Interruption Loan payment (BIP)