-

Coronavirus Business Interruption Loan (CBILS)

This page will be regularly updated with more information on the full terms of the new Coronavirus Business Interruption Loan. Further information can also be found on the British Business Bank and Bank of England websites.

Gain the financial backing you need to help your business cope with the Covid-19 outbreak, through this government-backed scheme.

Solutions for your business
 

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

This scheme is 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.

Importantly, access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS.

  • We provide facilities between £50,001 and £5 million (available in Sterling only)2
  • Security may be required, subject to application
  • We will 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 will be 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
  • CBILS has been extended and will now close to new applicants on Monday 30 November 2020.

For businesses with turnover greater than £45m, discover the Barclays Corporate Coronavirus large business interruption loan to gain the financial backing you need to help your business cope with the Covid-19.

How can the coronavirus scheme support your business?
 
  • Provides funding for a range of business needs (subject to eligibility and certain restrictions)
  • Terms up to 6 years are available (subject to credit approval)
  • Offers flexible repayment structures and the option to take capital repayment holidays so you can match payments to your income (subject to prior approval)
  • Offers 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
  • Smaller businesses from all sectors can apply for the full amount of the facility. The following trades and organisations are 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.

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.

Read related insights

Solutions

DocuSign

Sign your documents and agreements at the click of a button, through this leading e-signature platform.

British Business Bank

British Business Bank

A government-owned business development bank dedicated to making finance markets work better for smaller businesses.

Covid-19 Hub

Discover the latest information related to Covid-19 (coronavirus), including CBIL details, from Barclays Corporate Banking.

solutions

Coronavirus Large Business Interruption Loan (CLBILS)

Discover the Barclays Corporate Coronavirus large business interruption loan to gain the financial backing you need to help your business cope with the Covid-19 (for businesses with turnover greater than £45m).

Contact us

Get in touch

To discuss your business requirements and how Barclays can support you, contact us today. Alternatively, please speak to your Relationship Director for more details.