CBILS

The Coronavirus Business Interruption Loan Scheme is now closed to new applications.

Please note, applications received by 23.59 on 31 March 2021 can still be processed through to 31 May 2021.

If you have a query about CBILS, or wish to discuss an outstanding application, please contact us in the usual way.

About CBILS

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Scheme Features

Key scheme features:

• Loan amount: The maximum value of a facility provided under the scheme is £5m.
• No guarantee fee for SMEs 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 replayments.
• Finance terms: Finance terms are up to six years for term loans.
• Guarantee to the lender: The scheme provides the lender with a government-backed, partial guarantee against the outstanding facility balance. The borrower always remains 100% liable for the debt.

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

Please note: The following are not eligible under CBILS:

• Banks, Insurers and Reinsurers (but not insurance brokers);
• public sector bodies and;
• state funded primary and secondary schools

Legal Notices

Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.

Visit www.british-business-bank.co.uk/CBILS