Who can apply?

• UK-based businesses that are existing Clydesdale Bank customers with an annual group (if applicable) turnover over £45 million.
• Businesses should have a borrowing proposal which, were it not for the current pandemic, would be considered viable by us. Lenders need to believe that the provision of finance will enable the business to trade out of any short-to medium term difficulty.
• Businesses (or groups, if applicable) should not have applied or be applying for Bank of England’s Covid Corporate Financing Facility (CCFF), the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS).
• Banks, building societies, insurers, reinsurers, state funded primary and secondary schools and public sector organisations are not eligible for this scheme.

How does it work?

• Businesses (or groups, if applicable) can borrow up to £200m in aggregate for a maximum term of three years.
• Clydesdale Bank can only provide a CLBILS facility as a term loan.
• The maximum amount that Clydesdale Bank can provide to a business (or group, if applicable) is £50m.
• The Government Department for Business, Energy and Industrial Strategy will provide lenders with a guarantee for 80% of the loan.
• Borrowers will always remain 100% liable for the debt.
• If a business borrows less than £250,000 through the CLBILS scheme, no new personal guarantee can be taken as part of the deal.
• For CLBILS facilities over £250,000 a personal guarantee can be taken, but claims cannot exceed 20% of losses after all other recoveries have been applied.
• All companies borrowing through CLBILS will be subject to certain restrictions including in relation to the payment of dividends.
• Companies borrowing more than £50m in aggregate through CLBILS will also be subject to prior notification to the British Business Bank and further restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. You can find out more on the British Business Bank website.
• If accepted for a CLBILS loan, businesses (or groups, if applicable) cannot use the Bank of England’s Covid Corporate Financing Facility (CCFF), the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) if the CLBILS facility is outstanding.

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 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.