CBILS Loan Criteria

nicknock_2

Hi
Is there a turnover minimum to apply for a CBILS loan? My bank said you must've turned over £100k in the last financial year but I was just under. However, I have turned over £100k in the last calendar year Jan-Jan. Does anyone know what the criteria is? 
Thanks 

Grumpy_chap

No minimum turnover.
Have you read the FAQ?
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/

Grumpy_chap

Sorry, I replied for BBLS.
CBILS requires you to be outside the limit of BBLS, as from the BBLS FAQ:
"Following the launch of the Bounce Back Loan Scheme the minimum for term loans and overdrafts will be £50,001."
Limits for BBLS is £200k turnover, 25% loan = £50k.
If you don't qualify for BBLS because of CCJs then I doubt you would find CBILS easier to get.

nicknock_2

Grumpy_chap said:

Sorry, I replied for BBLS.
CBILS requires you to be outside the limit of BBLS, as from the BBLS FAQ:
"Following the launch of the Bounce Back Loan Scheme the minimum for term loans and overdrafts will be £50,001."
Limits for BBLS is £200k turnover, 25% loan = £50k.
If you don't qualify for BBLS because of CCJs then I doubt you would find CBILS easier to get.

Hi, no I know, just checking. But I still don't know whether this is the case with all banks or just with Barclays when all the info says there won't be a credit check? Why do CCJ's have such a huge impact when you can see the business is a good one, it's just ridiculous really, it was an admin error.