Coronavirus Loan Schemes
Friday, 29 January 2021
Government-backed loans for UK businesses impacted by coronavirus (COVID-19)
Financial Support That Could Help Your Business
Coronavirus Business Interruption Loan Scheme (CBILS)
Unlock up to £5m, depending on turnover
For smaller businesses with a turnover of less than £45m.
Business loans, overdrafts, invoice finance and asset finance available.
First 12 months of interest and lender-levied fees covered.
More than 90 accredited lenders.
The scheme went live on Monday 23 March and was to initially run for six months. The expanded scheme was then offered by lenders from Friday 3 April 2020 and operational from Monday 6 April 2020.
The Coronavirus Business Interruption Loan Scheme has been extended until 31 March 2021.
Coronavirus Large Business Interruption Loan Scheme (CLBILS)
Receive finance of up to £200m
For larger businesses with a turnover of more than £45m.
Business loans, overdrafts, invoice finance and asset finance available.
Repayment terms of up to three years.
Delivered by lenders accredited by the British Business Bank
CLIBLS is intended to be a temporary response to the unprecedented challenges to businesses as a result of the Coronavirus. The Coronavirus Large Business Interruption Loan Scheme (CLBILS) has been extended until 31 March 2021
Bounce Back Loan Scheme (BBLS)
Unlock £2,000 to £50,000, depending on turnover
For SMEs, micro businesses and other businesses.
No set-up fees and first 12 months of interest payments covered by government.
Term loan repaid over six years.
No repayments during the first 12 months.
The Scheme is intended to be a temporary response to the unprecedented challenges to businesses as a result of coronavirus (COVID-19). The Scheme has been extended until 31 March 2021.
More details of how to access these and other loans can be found on the British Business Bank website.