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.
We are working our way through applications and we will be in touch in due course. It’s important that you continue to provide supporting information as requested so that we can progress to a formal offer as quickly as possible.
If you have a query about CBILS, or wish to discuss an outstanding application, please contact your relationship manager or call us on 0800 756 0800.
Recovery Loan Scheme
A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility size starting at £25,001 for Term Loans.
Further information can be found on the British Business Bank website.
The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of COVID-19 outbreak.
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.
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.
If you need to speak to us about an ongoing CBILS application or your existing CBILS loan, please call us on 0800 756 0800 or contact your relationship manager.
Frequently asked questions
We understand you might be worried about the financial impact of coronavirus on your business and we’re here to help.
The British Business Bank has addressed frequently asked questions here.
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 www.british-business-bank.co.uk/CBILS