A partnership supporting British Business

United Trust Bank, the British Business Bank and intermediaries – working in partnership to continue funding assets for British businesses.

Offered exclusively to Asset Finance Intermediaries working with UK businesses adversely impacted by COVID-19.

No documentation fees or annual admin fees | The interest charge for the first 12 months is paid by the Government | Broker commission 2%


UTB|CBILS Asset Finance Loan
See below for full product details and information about eligibility or download our product guide here.



Guide to the UTB|CBILS Asset Finance Loan

United Trust Bank is pleased to be participating in the asset finance version of the government backed Coronavirus Business Interruption Loan Scheme (CBILS), available to SMEs across the UK, who as a result of COVID-19 are experiencing lost or deferred revenues, leading to a disruption in their ability to source finance for business assets.

Products

  • Hire Purchase.
  • Finance Lease.
  • Refinance (Sale & HP/Leaseback).

Assets we finance

Cars, Bus and Coach, Heavy and Light Commercials, Trailers, Municipal Vehicles, Construction Equipment, Agricultural Equipment, Plant and Machinery, Engineering Equipment, Waste Recycling Equipment, Media Equipment.

Criteria

  • Existing and new customers.
  • Repayment terms two to five years.
  • Non regulated deals only.
  • Deal size £50,001 to £250,000.
  • Less established businesses.
  • Transactions with smaller deposits.
  • Profitable businesses with low net worth.
  • Older assets.
  • No personal guarantees.
  • Not applicable to businesses that were under financial stress prior to COVID-19.
  • The borrower always remains 100% liable for the debt.

Our requirements

  • Broker Proposal (to include how COVID-19 has impacted the business and any forbearance received).
  • Fully certified Audited Accounts (not abbreviated).
  • Up-to-date Management Information.
  • 3 months bank statements.
  • Confirmation of agreed OD facilities

Eligibility

The following points will help you determine if your business is eligible for UTB CBILS.

  • UK Business users only.
  • Unregulated facilities for Sole Traders, Partnerships, Limited companies and PLCs.
  • Asset must be for business purposes only.
  • Companies with a turnover up to £45m.
  • The business must generate more than 50% of its turnover from trading activity.
  • Financially viable cases prior to COVID-19 (In this respect, the hirer will need to self certify that they have been adversely impacted by the Coronavirus).
  • Not an existing user of the Bounce Back Loan Scheme (self certification required) plus we will require disclosure of other CBIL facilities either taken or agreed and any other state aid.
  • Companies suffering short term cash flow issues in higher risk sectors.

CBILS requirements for Intermediaries

To enable UTB to accept referrals from Intermediaries you must:

  • Complete all materials in the CBILS Intermediaries Training pack
  • Complete the UTB CBILS Intermediaries Training certificate
  • Complete the UTB Intermediaries Terms of Business

All materials are available upon request


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 at: www.british-business-bank.co.uk/CBILS

Next steps

Contact us


Open your business account here

Open your ISA account here

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