British Business Bank Loan Schemes (CBILS, CLBILS and BBLS)

CBILS

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.

 

CBILS details

CBILS has been significantly expanded and it’s key features are:

-For smaller businesses with a turnover of less than £45m

-Businesses looking for up to £5m in finance

-Business loans, overdrafts, invoice finance & asset finance available

-First 12 months of interest and lender-levied fees covered

-More than 50 accredited lenders

This significantly increases the number of businesses eligible for the scheme.

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CLBILS 

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to mid-sized and larger UK businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.

Specifically, it facilitates access to finance for businesses with a turnover above £45 million, the upper limit for the existing smaller-business focused Coronavirus Business Interruption Loan Scheme (CBILS).

CLBILS details

CLBILS key features are:

– For larger businesses with a turnover of more than £45m

– The maximum amount available through CLBILS to a borrower and its group has now increased from £50m to £200m.

– Term loans and revolving credit facilities over £50m will be offered by CLBILS lenders which have secured additional accreditation.

– The maximum size for invoice finance and asset finance facilities remains at £50m.

– Companies borrowing more than £50m through CLBILS will be subject to further restrictions on dividend payments, senior pay and share buy-backs during the period of the loan.

As a result, larger firms which do not qualify for the Bank of England’s Covid Corporate Financing Facility will be better able to access enough finance to meet their cashflow needs during the outbreak.

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Bounce Back Loan Scheme (BBLS)

The Bounce Back Loan Scheme (BBLS) provides financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak and that can benefit from £50,000 or less in finance.

BBLS details

-For SMEs, micro businesses and other businesses requiring smaller loans

-Businesses looking for between £2,000 and £50,000

-Term loan repaid over six years

-No set-up fees and first 12 months of interest payments covered by government

-No repayments during the first 12 months

Find out more

Get more advice and business support

Visit our Coronavirus Advice Hub

Coronavirus Advice Hub