Coronavirus Business Interruption Loan Scheme (CBILS)
Funding to support your business
The Coronavirus Business Interruption Loan scheme is coming to an end, so you’ll need to start your application on or before 31st March 2021. To discuss the scheme and how you can start the application process you will need to speak to a relationship manager. You can do this by contacting your relationship manager directly or submitting an online enquiry form to request a call back.
What is the Coronavirus Business Interruption Loan Scheme (CBILS)?
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.
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.
How to enquire
Important information
Existing Clydesdale Bank business customers can enquire online for CBILS support. Unfortunately, we are not in a position to accept applications from new customers at this time.
Enquire about CBILS support (opens in new window)
If you need to speak to us about a new or existing application or enquiry, please call us on 0800 032 3971 or contact your relationship manager.
Bounce Back Loan Scheme
Looking for a Government backed loan scheme of £50,000 or less? We are participating in the Bounce Back Loan Scheme.
Find out more about Business Bounce Back Loan (opens in new window)
Frequently asked questions
We understand you might be worried about the financial impact of coronavirus on your business and we’re here to help.
View frequently asked questions (opens in a new window)
The British Business Bank has addressed frequently asked questions here.
British Business Bank
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
If you need to speak to someone
If you need to speak to us about a new or existing application, please call us or contact your relationship manager
Available Monday - Friday 8.00am - 6.00pm
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.