NACFB COVID-19 response hub


Welcome to the National Association of Commercial Finance Brokers’ (NACFB) COVID-19 Response Hub


Below you will find coronavirus-related information and guidance relevant for:

    • Small to medium-sized UK businesses (SMEs)
    • Commercial finance intermediaries (brokers)
    • And the wider lending community (inc. lenders)

The Chancellor has set out a package of targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. Details of the complete package of measures can be found here.


Are you a UK business seeking finance?


Partner with a recognised business broker today

The NACFB‘s UK-wide network of commercial finance brokers can help you find your business funding solution. Our not-for-profit trade body hosts a searchable broker directory through our free findSMEfinance platform. 

All brokers on our platform are authorised and regulated by the Financial Conduct Authority (FCA). In addition, Member brokers of the NACFB adhere to an industry recognised Code of Practice.

Our membership of brokers provide expert financial guidance with access to at least 140 business lenders. They are ready and able to marry their experience with a virtual approach that can save your business both time and money.  

You can find your trusted broker adviser by searching through our free findSMEfinance platform today. 



Are you a commercial finance broker?


CBILS for brokers 

The Chancellor has announced that the British Business Bank (BBB) will manage the Coronavirus Business Interruption Loan Scheme (CBILS), which has now officially launched.  

  • The scheme is being delivered through a range of over 40 accredited lenders (including NACFB Patron lenders) 
  • CBILS  provides the lender with a government-backed guarantee against the outstanding facility balance
  • CBILS facilities are available from £500 up to £5 million:

Updated scheme features

  • 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.

These changes should be retrospectively applied by lenders for any CBILS facilities offered since 23 March 2020.  For any commercial (non-CBILS) facilities offered since the same date, providing the borrower meets the CBILS eligibility criteria, lenders have been asked to bring these facilities onto CBILS wherever possible (e.g. where the lender is accredited to offer the same facility through CBILS) and changes retrospectively applied as necessary.

Existing scheme features

  • 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. Lenders will pay a fee to access the scheme.
  • 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 fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.
  • 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.
  • 80% guarantee: The scheme provides the lender with a government-backed, partial guarantee (80% gross) against the outstanding facility balance, subject to an overall cap per lender.
  • Principal Private Residence (PPR) – A borrower’s/guarantor’s PPR cannot be taken as security to support a Personal Guarantee or as security for a CBIL backed facility.
  • The borrower always remains 100% liable for the debt.

New eligibility criteria

Smaller businesses from all sectors can apply for the full amount of the facility. To be eligible for a facility under CBILS, a smaller business must:

  • Be UK based in its business activity, with turnover of no more than £45m per year.
  • Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender.
  • Self-certify that it has been adversely impacted by the Coronavirus (COVID-19).

Documents the lender will likely require

  • MI to end of year 2019
  • 2017-2018 & 2018-2019 accounts
  • Assets & Liabilities
  • Details of latest payroll e.g. breakdown of monthly costings
  • Three months latest business bank statements 
  • Explanation of how the funds will be used 

Brokers should note that the borrower will remain 100% liable for the debt.



NACFB Patron lenders participating in CBILS 

A list of  all NACFB Patron lenders participating in the CBILS initiative can be found below (correct as of 23/03/20)

    • Aldermore Asset Finance
    • Arkle Finance Limited
    • Assetz Capital 
    • Barclays
    • Business Enterprise Fund
    • Close Brothers
    • Clydesdale Bank 
    • Cynergy Bank
    • Funding Circle
    • Haydock Finance
    • Lloyds Bank
    • Metro Bank
    • NatWest
    • Newable
    • Paragon Bank
    • RBS
    • Santander
    • Secure Trust Bank
    • ThinCats
    • Yorkshire Bank



Appear on our findSMEfinance broker directory

The NACFB is a recognised affiliate with the CBILS initiative, all SMEs seeking finance are being encouraged to partner with an NACFB broker, as well as being directed to our findSMEfinance platform. 

The NACFB has also tripled all  online advertising spend  to our findSMEfinance platform, part of a proactive campaign that seeks to enhance national awareness of the Association’s brokers, positioning them as a lifeline for coronavirus-stricken SMEs. The findSMEfinance platform has also undergone a brand refresh in a further attempt to increase visibility.

Since its launch last February, nearly 400 NACFB brokers have signed-up to the lead generation platform. The free broker directory enables UK businesses seeking finance to simply filter their funding requirements by loan size, type and location and are then presented with a range of the Association’s commercial brokers to approach.

All full NACFB Members that hold FCA authorisation are eligible to sign-up and can do so in minutes by registering here or below today.



CBILS broker resources

The NACFB has proactively approached all Patron lenders seeking answers to key questions, including:

  • Whether or not they remain open for new business
  • Asking them to outline any key changes to criteria
  • Clarifying what incremental support they are offering to existing customers
We have collated all the responses we have so far received, this document can be found here. It will be updated daily with the latest amends and updates. 


Join our independent trade body

If you’re not already a Member of the NACFB, you can find out more about joining the UK’s largest independent trade body for commercial finance brokers here.


Are you a lender in the commercial finance sector?


Become a CBILS accredited lender

Representatives from the British Business Bank have confirmed directly to the NACFB  that they are still accepting lender applications for their Coronavirus Business Interruption Loan Scheme (CBILS).

Applications are being processed and we encourage our lender Patrons to explore the scheme. Interested funders can:

  • Download a guidance document here.
  • Ccomplete an Expression of Interest Form here
  • Submit their completed  BBB Accreditation to this dedicated mailbox.



Join the NACFB as a Patron lender

If you’re not already a Patron lender of the NACFB, you can find out more about how to partner with  the UK’s largest independent trade body for commercial finance brokers here.