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Coronavirus Business Interruption Loan Scheme (CBILS)

This scheme closed to new applications on 31 March 2021.

Coronavirus

Coronavirus Business Interruption Loan Scheme (CBILS)

What is the Coronavirus Business Interruption Loan Scheme?

The Coronavirus Business Interruption Loan Scheme (CBILS) was a government initiative to support small and medium-sized businesses. The government provided lenders like NatWest, with a guarantee for 80% of qualifying loans.

Note, the borrower remains liable for all of the debt.

Borrow from £50,001 up to £5m.

Loan terms up to 6 years with fixed and variable interest rates available. The loan term may be extended to a maximum 10 years in exceptional circumstances and at Lenders discretion.

A 12 month capital repayment holiday was automatically applied at the start of the loan (this may mean you would pay more interest over the term).

Interest for the first 12 months was paid by the government, and then by you for the remainder of the loan term.

You may choose to make repayments at any time with no early repayment fee.

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Security may be required. Over 18s only. Subject to status. Business use only. Any property or asset used as a security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it. Fishery, aquaculture and agriculture businesses may not qualify for the full interest and fee payment.

Useful info about our Coronavirus Business Interruption Loan

Working with British Business Bank

BBLS, CBILS and CLBILS are managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary for State for Business and Trade (formerly Business, Energy & Industrial Strategy-BEIS).

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.

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Visit british-business-bank.co.uk Open in new window