Register your interest for a development loan, where up to £5m is funded by CBILS, and pay no fees or interest in the first 12 months
BLG specialises in providing development finance to UK SME property developers and we are delighted to have been approved for accreditation by British Business Bank as a lender under the Coronavirus Business Interruption Loan Scheme.
We are proud to be supporting British businesses navigate through these uncertain times by providing property-secured loans through this government-backed scheme.
We will be offering development finance through CBILS with flexible loan structures to support individual requirements.
Register your interest
What is CBILS?
The Coronavirus Business Interruption Loan Scheme is designed to support UK SMEs that are losing revenue and seeing their cashflow disrupted as a result of the COVID-19 outbreak.
CBILS will cover the first 12 months of interest payments and fees, whilst providing a government-backed guarantee for lenders to encourage more lending.
The scheme enables more SMEs to access finance up to £5m without the additional pressure of upfront costs.
Personal Guarantees will be required but capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds from the sales have been applied. A Principal Private Residence (PPR) cannot be taken as security to support a personal guarantee or as security for a CBIL backed facility
Who is eligible for CBILS?
You can apply for a BLG CBILS loan if you meet all the following criteria:
- You are a UK-based business with annual turnover up to £45m
- You have a viable borrowing development finance proposal for us to consider
- You can self-certify that you have been impacted by the coronavirus (COVID-19)
- You wish to borrow up to £5 million from CBILS for a term of up to 2 years
- You require a Property Development Loan
- You have not been classed as a “business in difficulty” on, or before 31 December 2019
Please note that other standard lending criteria apply.
How much can I borrow under CBILS?
BLG offers property-secured loans, where up to £5m of the loan is funded by CBILS, with up to 2 years repayment terms.
When taking out a CBILS loan, the business is 100% liable for the full loan amount. If the business is unable to repay, the CBIL scheme provides a partial guarantee to the lender, not to the business.
There is no fee to the borrower for the guarantee
How do I apply for CBILS?
Following our announcement as an accredited CBILS lender, we are in a position to accept both new and existing customer applications. You can register your interest in a CBILS loan using the form on this page and we’ll contact you as soon as possible regarding your enquiry.
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: