Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme and Coronavirus Large 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.
If you have a query about CBILS or CLBILS, or wish to discuss an outstanding application, please contact us.
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 sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website.
Is my business eligible?
To be eligible for support via a CBILS facility, a business must:
- Be a viable UK based business, with a turnover of no more than £45m per annum
- Generate more than 50% of its turnover from trading activity
- Require a CBILS-backed facility to support trading primarily in the UK
- Borrow up to a maximum of £5 million (finance terms are up to five years for term loans and asset finance)
- Be suitable for a Close Brothers equipment finance facility