CBILS Loan Origination Software

Automate SME Lending Process to manage high volume of CBILS loan applications

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The Coronavirus Business Interruption Loan Scheme (CBILS) has been rolled out to fight the COVID-19 induced economic slowdown. CBILS accredited lenders as well as prospective lenders must be prepared to fulfill the increasing demand from existing customers and new prospects in terms of technology and operational readiness to handle the CBILS requests.

Newgen’s CBILS quick loans onboarding solution enables financial institutions to disburse a large volume of loans to small businesses, and can be deployed within hours. The solution allows for online application of all loan types – term loans, overdrafts, invoice finance and asset finance facilities, with automated eligibility check, loan calculation, disclosure, and document upload.

Please contact us to know more about our CBILS quick loans onboarding solution.

Question: Can your software for CBILS loans be accessed over mobile or/and a desktop?

Ans: Yes, it can be accessed on both mobile or/and a desktop.

Question: Do you have a separate form on the website to onboard customers who want to apply for the CBILS loans?

Ans: Yes, a specialized simple form is created to onboard customers looking for CBILS loans.

Question: Are there any pre-qualification/eligibility criteria/conditions available in the system?

Ans: Yes, there are specific questions/pre-qualification criteria available as a part of the checklist with an option to tick “Yes” and “No”.

Question: Does your solution have the capability to capture and qualify an applicant for the CBILS loans?

Ans: Yes, the solution has inbuilt logics to qualify an applicant for the CBILS loans.

Question: Does your solution support for capturing of different entity types?

Ans: Yes, the solution supports capturing of multiple entities like

  • Sole Trader
  • Partnership
  • Limited Liability Partnership
  • Limited Company
  • Unlimited Company
  • Public Limited Company

Question: What kind of documents are captured in the solution?

Ans: The solution allows to print and upload the application form. The applicant can upload their management accounts, cash flow forecast, business plan, historic accounts, details of assets, etc.

Question: Can the solution automatically compute the maximum loan amount?

Ans: Yes, the system has inbuilt logic to compute the maximum loan amount

Question: How can your solution help in the faster roll-out of loans under £250K?

Ans: The software has the capability to check the eligibility of the applicant and process the application in a straight-through manner. This makes roll-out of small loans (under £250K) very fast.

Question: Does your system have the capability to process secured and unsecured loans as per the CBILS guidelines?

Ans: The software has the capability to process both types of loans (secured/un-secured) as per thresholds & guidelines defined in the CBILS.

Question: How long will the deployment take and how soon can we start accepting applications for CBILS?

Ans: You can get up and running within hours.

Question: Does your lending automation software support integration with the existing banking systems?

Ans: The solution supports integration with out of the box APIs.

Question: Can your CBILS lending automation software be deployed in the cloud?

Ans: Yes, it is a cloud-based solution.

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