Coronavirus Business Interruption Loan Scheme (CBILS)  



 Got a question about the Start Up Loans Scheme? See if we’ve answered it below:

I don’t want business support, why do I have to see an advisor?
All applicants need to see an advisor at some point during the application process so that documentation and identification documents can be checked. Even if you don’t need support with your business plan, meeting with an advisor will ensure the application process is quicker as we will not need to come back to you if miss out any documentation in your application.If you have all of your documentation ready, we do have a fast track system with a face to face skype call.

I don’t have very good credit, is there any point in me applying?

Your credit report is important to your application, but having poor credit does not exclude you from applying.

We ask you to get your credit report from Equifax, Noddle or Experian which will bring up any debt you may have. If you have declared your debts in your application and you have taken the repayments into account in your Personal Survival Budget, our fund managers will check that you will be able to manage further debt.

Applicants for a Start Up Loan must not currently be declared bankrupt and/or have any outstanding IVAs or DROs and must have been discharged for 2 years in order to be eligible.


How much money can I borrow?

Loan amounts are dependent on your business case however the average loan amount is £6,000. We will need to know in your business plan what you are planning to spend the money on so you should only be applying for the amount that you need.

Is this a grant?

The Start Up Loan is not grant-based funding and monthly repayments will have to be met. Meeting monthly loan repayments forms a primary condition of the loan agreement that applicants must accept and sign.

Like other credit commitments, failed Start Up Loan repayments may affect your credit score and formal action may commence against the applicant for missed loan repayments.

I am already participating on the New Enterprise Allowance (NEA) Scheme, can I still apply to you for a Start Up Loan?

If you are participating on the NEA Scheme you cannot apply to us for a Start Up Loan but must continue to work with your existing NEA delivery partner. If you’re not sure who you should be working with email

Do I have to use the business plan template?

No, the business plan template and guidelines are there on our website to give you an idea of the level and type of information we require about your business. You are welcome to use them however if you already have a business plan, you are not obliged to re-write it in our templates.

We do not advise downloading business plan apps as they do not provide us with the information we need and do not help you to understand your business plan.

Do I need to provide you with personal or business bank statements?

The Start Up Loan is a personal loan for business purposes so we need your personal bank statements.

I don’t have a bank account, what do I do?

As this is a personal loan and we require 3 month’s bank statements from you as part of your application, if you do not have a bank account when you apply, we require you to open an appropriate account and put your application on hold for 3 months.

How do I get my ID verified?

All applicants must have a face to face meeting with an advisor at some stage during the application process and at this point, you will have your ID verified.

Take original documents and copies to the meeting to be signed by the advisor. Information on what you should present is on the Loan Application form.

You may also be required to have you ID verified at the post office if you do not have any documents from Group A on the form. Find out more about Post Office verification and call us if you have any questions.

I haven’t heard from my business advisor, how do I get in touch?

Give us a call on 01872 223 883 or email us  and we’ll find out for you.

How long will it take for me to get my money?

Once we have your application, provided there is nothing missing, we aim to complete the appraisal in 5-10 working days, during which time it is likely you will be contacted by the fund manager.

You will be informed when your loan has been approved and you will receive loan drawdown documents in the post. Once you have completed and signed them and sent them back to us, it should take 5 working days for you to receive your money.

Is SWIG Finance the same as the other Start-Up Loan delivery partners?

The Start Up Loans Company is a UK-wide, government-backed scheme, which offers a repayable loan to individuals over the age of 18 who have a viable business idea but no access to finance. The scheme funds businesses in every sector. As well as financial backing all loan recipients are given access to a mentor, free training events and exclusive business offers.

SWIG Finance is part of a network of official Start Up Loans delivery partners across the UK who administer the scheme. We are here to guide you through the application process, including advice on creating a business plan and cashflow forecast. If you receive a loan we will then support you through your journey, providing you with a business mentor.

I’ve finished my application, where do I send it?

You can either send us your application by email or post it to the address below. We’ll let you know when we’ve received it.

SWIG Finance

Lowena House

Glenthorne Court

Truro Busines Park