To be eligible to apply for a CBILS loan through Pegasus Finance you need to meet the following
criteria:
- UK-based business that has been adversely affected by COVID-19
- Turnover in excess of £200,000
- Minimum 3 years of trading history
- Over 50% of turnover from trading activity (e.g. not from investments)
- Loan is for business purposes
- Loan is primarily for trading in the UK
When taking out a CBILS loan, the business is liable for the full loan amount. If the business is unable to repay, the scheme provides a partial guarantee to the lender, not to the business.
