ATOM Bank go live with CBILS loans through brokers but to pause non-CBILS loans from Monday 5pm

After a lot of hard work behind the scenes, we’re delighted to announce we’ll be accepting CBILS applications from Tuesday 2 June.

We can’t wait to get going and continue to work with you to support the UK’s SMEs.

Want to apply for a non-CBILS loan?

You’ll need to submit a full application for your client before 5pm on Monday 1 June if you want to secure a non-CBILS product from the current range.

From Tuesday 2 June we’ll only be taking CBILS applications and will not accept any applications for any other loans until further notice. Of course, we’ll let you know as soon as we’re taking non-CBILS applications again.Already submitted a non-CBILS case?Your application will continue as normal and we’ll give you email updates to let you know how it’s progressing.THE FACTS

– For new and existing customers

– Refinance debt from another lender if it improves cash flow

– Fee-free with capital and interest paid for the first year

– Approved for accreditation as a new lender by the British Business Bank to offer loans through CBILS.We’ll give you in-depth training

We’ll make sure you know CBILS inside out. From eligibility to key features and everything in between.

Plus, our CBILS hub is there 24/7 for even more info including FAQs.

Call us before you apply for CBILS loans

You must contact our Business Development team by telephone on 03333 99 00 60 BEFORE submitting your applications.

The team will tell you about our capacity and let you know our current processing times.

Lending criteria update

Just to let you know, we’ve also made some temporary changes to our current business banking lending criteria.

You’ll be able to find our full lending criteria on our website later on today, but for now, here’s a quick summary of the changes:

– We’ve increased our minimum serviceability criteria, debt servicing cover is now 180% of the loan cost

– We’re no longer able to lend to new start businesses (businesses with less than two year trading history).

Bespoke, one-on-one advice

Got any Qs? Just get in touch with our TBDMs who are on hand to answer your questions by email businesssupport@digitalmortgages.net or by phone on 0333 399 0060, Monday to Friday from 9am to 5pm. Or just contact your RBDM.Support for your clients

If your clients need independent support they can contact Business Debtline, a charity who provide free debt advice for small businesses and the self-employed. Visit www.businessdebtline.org or call 0800 197 6026.

Thanks,
Atom