Coronavirus Business Interruption Loan Scheme (CBILS)

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.

Eligibility criteria for the Coronavirus Business Interruption Loan Scheme

You may be eligible if:

  • You were a UK-based business;
  • Your annual group turnover was no more than £45m;
  • You could certify that your business has been impacted by coronavirus;
  • You could show evidence of affordability for lending prior to coronavirus. 
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You won’t be eligible if:

  • You were a bank, insurer, reinsurer (but not insurance brokers), public sector body, state funded primary or secondary school.
  • Your business was subject to collections or collective insolvency proceedings.
  • Your business already had (or was in the process of applying for) a Bounce Back Loan unless that loan was repaid as part of your CBILS application.
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Useful info about our Coronavirus Business Interruption Loan

The Coronavirus Business Interruption Scheme closed to new applications on 31 March 2021

If you have a query about CBILS please contact us using your usual bank contact.

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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