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

Coronavirus Business Interruption Loan Scheme

As one of the first companies accredited to offer the Coronavirus Business Interruption Loan Scheme (CBILS), we’ve helped numerous smaller businesses from across the sectors we serve.
The Coronavirus Business Interruption Loan Scheme delivered by British Business Bank accredited lenders, is designed to support the continued provision of finance to smaller businesses across the UK who have been impacted by the Covid-19 outbreak.
The scheme supports a wide range of business finance products, those we offer include:

Term Loans of £50,001 to £500,000* over 2–5 years with the first 12-months capital and interest free. Decisions are usually given c.48 hours from submitting all the required information.

Sale and HP Back enabling you to refinance your existing agreements and unencumbered assets with the first 12-months interest paid, to release cash and provide savings on monthly repayments.

Asset Finance for new and used machinery with 12-months interest free. Once you receive an offer of finance, you have up to 6-months to take the facility up, if you wish to, as a result we’re finding many companies are looking at their next 12–18 month investment plans with a view to take advantage of the savings CBILS provides.

*If you require more than £500,000 please talk to us, the maximum amount available is £5,000,000. 

Multiple finance facilities can be utilised by a single business under the CBIL scheme, providing the total amount is under £5m.

Depending on the term of the finance, having the first 12-months of interest, as well as any upfront fees covered represents savings of up to 56% on a 36-month or 100% on a 12-month term against what you’d have paid previously.

About CBILS

Key Facts

Eligibility Criteria

Recovery Loan Scheme

A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website.

The Coronavirus Business Interruption Loan Scheme (CBILS) is 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. For more information visit british-business-bank.co.uk.

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