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.
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Coronavirus Business Interruption Loan Scheme (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 using your usual bank contact.
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.
Your CBILS loan term
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
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.
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.