Coronavirus Business Interruption Loan Scheme (CBILS)

Funding to support your business

Clydesdale Bank is participating in the UK Government’s Coronavirus Business Interruption Loan Scheme (CBILS).

How does the CBILS work at Clydesdale Bank

• Businesses that are existing Clydesdale Bank customers can borrow from £25,001 to £5 million on a term loan
• You will not be asked to provide a 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.
• The British Business Bank has addressed frequently asked questions here
• All loans are subject to an eligibility and viability assessment

Who can apply?

• UK-based businesses that are existing Clydesdale Bank customers with an annual turnover of up to £45 million.
• We are aware that the scheme will be extended to larger businesses with turnover over £45m and will update eligibility information as soon as we can.
• There are restrictions to eligibility. A comprehensive overview of the eligibility criteria can be found on the British Business Bank website.

How to apply

You can start your application by completing the online application form. If you need to speak to us about a new or existing application, please call us on 0800 032 3971 or contact your relationship manager.

We are experiencing high volumes of demand at this time and appreciate your patience as we work through your application. Someone from Business Direct will get in touch with you as soon as possible.

Please note that security may be required. Any asset used as security will be at risk if you break the agreement and may be sold to repay your debt.

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.

British Business Bank

The Coronavirus Business Interruption Loan programme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. For full details visit www.british-business-bank.co.uk/CBILS