Your trading history, purchase orders and invoices combined can unlock between £50k and £5m.
Dynamic
Funds that flex with
your trading activity
Effortless
Autopilot transfers available credit to your business account
Free
Interest charges and fees covered by CBILS for 12 months
InstantFlow Cash Account (under CBILS)
Doing business locks up cash. The InstantFlow Cash Account releases money that you are owed.
The account limits flex with the ebb and flow of your invoices, purchase orders and payments, all powered by our unique AI.
How it works
The InstantFlow Cash Account works like a credit card in reverse. You withdraw cash owed to you, and your customers repay it through the account.
Your trading activity boosts your withdrawal limits, up to £5m.
Thanks to CBILS , the government will pay your InstantFlow Cash Account costs for the first twelve months (through a Business Interruption Payment). Unlike most CBILS products this is not a fixed-term loan, so after that, you only pay for what you use.
Keeping it simple
We’re getting the InstantFlow Cash Account ready, and will be open to applicants in the next few weeks.
Once signed up, we will turn on autopilot. The autopilot automatically transfers any available credit to your bank account, making the whole system as effortless to operate as possible. After all, it’s free for the first twelve months!
The Coronavirus Business Interruption Loan Scheme (CBILS)
InstantFlow Cash Account
The InstantFlow Cash Account is a revolving credit facility that allows your business to benefit from the Coronavirus Business Interruption Loan Scheme without taking out a significant loan for a period of time.
CBILS and the British Business Bank
The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders 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 cashflow.
It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. Please note that for term loans and overdrafts, the minimum amount a lender can offer under CBILS is £50,001.
Eligibility criteria
Smaller businesses from most sectors can apply for the full amount of the facility. To be eligible for a facility under CBILS, your business must:
- Be UK based, with turnover of no more than £45m per year.
- Have a need which, were it not for the current pandemic, would be considered viable by us
- Self-certify that you have been adversely impacted by the Coronavirus
The following businesses are not eligible:
- Banks, Insurers and Reinsurers (but not insurance brokers);
- public sector bodies and;
- state funded primary and secondary schools.
Further information
Up to £5m facility
The maximum value of a facility provided under the scheme is £5m, available on repayment terms of up to six years.
No guarantee fee for SMEs to access the scheme
No fee for smaller businesses.
Interest and fees paid by Government for 12 months
The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees1 , so smaller businesses will benefit from no upfront costs and lower initial repayments. (Fishery, aquaculture and agriculture businesses may not qualify for the full interest and fee payment.)
Finance terms
Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.
Guarantee to the lender
The scheme provides the lender with a government-backed, guarantee against the outstanding facility balance. The borrower always remains 100% liable for the debt.
Principal Private Residence (PPR)
A borrowers/guarantors PPR cannot be taken as security to support a Personal Guarantee or as security for a CBILS- backed facility.
Liability
The borrower always remains 100% liable for the debt.
No personal guarantees for facilities under £250k
Personal guarantees of any form cannot be taken under the scheme for any facilities below £250k.
Personal guarantees for facilities above £250k
Personal guarantees may still be required, at a lender’s discretion, but recoveries under these are capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds of business assets 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.
Security
For all facilities, including those over £250,000, CBILS can now support lending to smaller businesses even where a lender considers there to be sufficient security, making more smaller businesses eligible to receive the business interruption payment
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: www.british-business-bank.co.uk/CBILS