Coronavirus Business Interruption Loan (CBILS)

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, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports lending from £25,001 up to £10m. Read more about the Recovery Loan Scheme.

This was a term loan product offered in conjunction with the UK Government¹. A government guarantee was issued in favour of the lender, which allowed us to consider lending to viable businesses who have been affected by the Coronavirus outbreak.

This scheme was designed to support UK based small and medium-sized businesses, with a turnover of up to £45 million, with a viable business proposition who are struggling with the challenges of the Covid-19 outbreak.

• Facilities between £50,001 and £5 million (available in Sterling only)²
  
• Security may be required, subject to application
• We do not take personal guarantees as security for any CBILS loans
  
• The borrower’s primary residential property cannot be taken as security under the scheme
• In order to support client cash flow issues, the arrangement fees and the first 12 months interest are paid by the UK government as a “Business Interruption Payment”
• As with any other loan facility you remain responsible for repayment of 100% of any facility supported by the CBIL scheme.

• Funding for a range of business needs (subject to eligibility and certain restrictions)
• Terms up to 6 years (subject to credit approval) 
• Flexible repayment structures and the option to take capital repayment holidays so you can match payments to your income (subject to prior approval)
• A choice of fixed and floating³ interest rates to help you manage your cashflow.

Important information

• You gain access to lending via this scheme but remain responsible for repayment of 100% of the outstanding facility at all times and not just the amount of the facility outside the coverage of the Government guarantee
• Under the Business Interruption Payment rules, the maximum assistance that can be provided is €800,000, with restrictions in certain sectors⁴
• The following trades and organisations were not eligible to apply: Banks, Building Societies, Insurers and Reinsurers (but Insurance Brokers are eligible to apply); The public sector including state funded primary and secondary schools.
• The product referred to in this webpage is subject to separate terms and conditions
• The scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk.
• The provision of this guarantee scheme should not be construed as an endorsement or warranty of Barclays by the government of the United Kingdom, including the Secretary of State
• A GBP facility for this product does not require that you hold a Barclays Business Current Account.

Borrowers requesting CBILS, or any member of the borrowers group must not have any current borrowing under either the Bounce Back Loan Scheme (BBLS), the Coronavirus Larger  Business Interruption Loan Scheme (CLBILS) or the Bank of England’s COVID Corporate Financing Facility (CCFF).

Barclays Bank PLC adheres to The Standards of Lending Practice for Business Customers which are monitored and enforced by The Lending Standards Board^.

¹Subject to certain separate terms and conditions and eligibility criteria specified by the Department for Business, Innovation and Skills.

²Subject to status and eligibility.

³Negative interest rates: If your facility is aligned to a floating reference rate (e.g. Bank of England Bank Rate) and that rate becomes less than zero then it will be deemed to be zero i.e. the total interest rate charged for that facility will never be less than the facility margin.

⁴Maximum assistance may be lower for specific sectors.