- I am new to Invoice Finance, where can I find more information on whether it is suitable for me?
Read more about Invoice Finance or contact us. It is important to understand whether your business meets the eligibility criteria for Invoice Finance as otherwise we will be unable to support.
- Can I get a term loan from BFS?
No. We offer CBILS through a top-up to the Invoice Finance facility. If you require a term loan please visit the British Business Bank’s website to find other accredited funders.
- Do I have to apply to the British Business Bank?
No. We will handle you application end-to-end. Any paperwork required by the British Business Bank will be processed by us.
- I'm an existing client, can I apply for CBILS?
Yes. You can apply for a CBILS Invoice Finance top-up, which will provide you with additional funding.
- I'm an existing client, will I have two facilities with BFS?
No. You will have one Invoice Finance facility, however we will provide you with separate information on your CBILS Invoice Finance top-up.
- How long does the application take?
Your facility can be in place in a matter of days, however this will depend on the speed in which we can access the information we need to support your application.
- Do I need to provide a Personal Guarantee?
Not if your CBILS top-up is under £250,000. Additional security might be required over this level. To secure you main facility with BFS you may be required to provide some Personal Guarantee as per our normal credit assessment criteria – however, this will be made clear to you during the application process.
- What fees will be free for 12 months?
You will not pay fees on the CBILS elements of your funding, including service fee, discount fee, any set-up fee or any additional services.
- Can I repay my CBILS facility early?
Yes - and without any early repayment fees. However, your main facility will have a contract term which you must fulfil.
- What if I have been rejected for CBILS by BFS?
You have the right to seek clarity from the British Business Bank. However, it is at the individual funder’s discretion if they feel you qualify for a CBILS facility.
- Can I transfer my CBILS facility from another provider?
No. The CBILS facilities cannot be transferred to BFS from a previous funder or transferred to a new funder should you decide to leave.
- Where can I get more information on CBILS?
For the most up to date information on CBILS, please visit the British Business Bank website.