Coronavirus Large Business Interruption Loan (CLBILS)

Solutions for your business

CLBILS is a facility offered in conjunction with the UK Government (specifically the Secretary of State for Business, Energy and Industrial Strategy). 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 medium-sized and larger businesses, or UK subsidiaries of overseas businesses, with a turnover of over £45 million, with a viable business proposition who are struggling with the challenges of the Covid-19 outbreak.

How can the coronavirus scheme support your business?

• Provides funding for a range of business needs (subject to eligibility and certain restrictions1) and facilities available include term loans and revolving credit facilities
• Minimum loan value: £50,000
  
• Maximum loan size is £200 million. The previous limit of £25 million for borrowers with a group turnover between £45 and £250 million has been removed and the maximum loan limit is now the higher of:
     o Double the annual wage bill of the UK business of the borrower for 2019 or the last year available
     o With appropriate justification and based on self-certification, the borrower’s UK business’ liquidity needs for the next 12 months
     o 25% of the total turnover of the borrower’s UK business in 2019
• For loans with a value greater than £50 million additional restrictions apply with regards to dividends and senior management remuneration (speak to your Relationship Director for details)
  
• The borrower is responsible for the payment of all interest and fees 
• Security may be required, subject to application
• As with any other loan facility the borrower remains responsible for repayment of 100% of any facility supported by the CLBIL scheme
• CLBILS has been extended and will now close to new applicants on 31 January 2021.
  

Important information

• The borrower gains access to lending via this scheme but remains 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
• The scheme provides the lender with a government-backed, partial guarantee (80%) against the outstanding facility balance 
• The CLBILS facility must be in Sterling (or in such other lawful currency of the United Kingdom from time to time)
• If the borrower is receiving lending from a syndicate, then only accredited lenders within the syndicate may use the CLBILS and may use it only in respect of their own lending. If there are multiple accredited lenders in the syndicate, each can only use CLBILS separately through its own accreditation
• Borrowers requesting CLBILS, or any member of the borrowers group must not have any current borrowing under either the Bounce Back Loan Scheme (BBLS), the Coronavirus  Business Interruption Loan Scheme (CBILS) or the Bank of England’s COVID Corporate Financing Facility (CCFF)
• The product referred to in this webpage is subject to separate terms and conditions
• 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
• 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.
  

Notes

¹ The following are not eligible under CLBILS: credit institutions (falling within the remit of the Bank Recovery and Resolution Directive), building societies, insurers and reinsurers (insurance brokers, however, are eligible), public-sector bodies, further-education establishments, if they are grant-funded, state-funded primary and secondary schools.

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