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Understanding your Coronavirus Business Interruption Loan

If you’ve received lending under the Coronavirus Business Interruption Loan scheme (CBILS), find out more about your commitments and what you can do to prepare for when your repayments begin.

CBILS loan term and interest rate

Your CBILS loan term

The maximum term of your CBILS loan is 6 years

You can make additional repayments at any time with no early repayment fee, and doing so will also help save you money on your interest rate.

Your CBILS loan interest rate

Interest on your CBILS loan will be a Fixed or Variable interest rate

The interest rate applied to your CBILS loan will be detailed in your loan agreement or advice letter if any changes have been applied

Interest during the first 12 months will be paid by the government. Remember that you are responsible for paying back the whole loan, including interest after the first 12 month period

Preparing for your repayments to begin

Making repayments on your CBILS loan

12 month repayment holiday

Upon drawdown, we applied an automatic 12 month repayment holiday

Your repayments are due to start 1 month after the repayment holiday ends

Making your payments

You can make extra repayments or repay the loan early without penalty

You must repay the loan and interest in full by the final repayment date in your loan agreement

Your repayment account

You'll need a current or loan servicing account with us for your repayments 

Payments will be required to cover your monthly repayments and interest as advised

Do you have more questions about CBILS?

Visit our Frequently Asked Questions to find further guidance and support

About Coronavirus Business Interruption Loan

The Coronavirus Business Interruption Loan scheme (CBILS) is a government initiative to support small and medium-sized businesses affected by the coronavirus outbreak

The government provides lenders like Ulster Bank, with a guarantee for 80% of qualifying loans

You must repay this loan in full including interest

The loan term is up to 6 years 

For the full details of your specific loan and commitments, refer to the loan agreement you signed before receiving your loan

Get the right support during coronavirus

We understand these are difficult times, and if you're in need of a helping hand we're here to support you.

Find guidance and support on our coronavirus hub.

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 british-business-bank.co.uk