Who can apply?

• UK-based businesses that are existing Clydesdale Bank customers with an annual group (if applicable) turnover of up to £45 million.
• If your business is currently using or applying for the Bounce Back Loan Scheme (BBLS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) or the Bank of England's COVID Corporate Financing Facility (CCFF), you will not be able to apply for a CBIL Scheme facility unless the proposed CBIL Scheme facility will refinance the whole of the BBLS, CLBILS or CCFF facility.
• There are restrictions to eligibility. A comprehensive overview of the eligibility criteria can be found on the British Business Bank website.

How does it work?

• Businesses can borrow from £50,001 to £5 million on a term loan
• You will not be asked to provide a new Personal Guarantee for a CBIL Scheme facility
• We will not charge you any interest payments for the first 12 months and the government will reimburse us
• You will not be asked to make any capital repayments for at least 6 months
• Thereafter, depending on the loan you choose, you will have the option of equal monthly capital repayments, or a final lump sum payment at maturity. Both options will include interest following the initial 12 month period
• A relationship manager will be on hand to support you with your application
• Part of the loan value is guaranteed by the Department for Business, Energy and Industrial Strategy for which the bank will pay a fee. The guarantee is provided to the Bank and the borrower remains responsible for repaying 100% of the loan.
• All loans are subject to an eligibility and viability assessment

Important information

Interest rates in respect of borrowing facilities are individually negotiated and the amount you are charged will depend on your circumstances - speak to your relationship manager for more details.

Normal lending assessment applies. Security may be required, and fees may be applicable, although facility arrangement fees will not be charged. Full terms and conditions are available on request.

If you’re worried about your finances, please call us on 0800 756 0800 or contact your relationship manager. You can also contact the following organisations for free advice and there is further information in the UK Finance leaflet on Dealing With Debt.

Other business finance support options

In addition, the British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.