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Coronavirus Government Loan Schemes (UK only)

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 your account manager.

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. 

Recovery Loan Scheme

Is my business eligible?

To be eligible for support via a CBILS/CLBILS facility, a business must:

    1

    Be a viable UK-based business, with a turnover of no more than £45m per annum

    2

    Generate more than 50% of its turnover from trading activity and require a CBILS-backed facility to support trading primarily in the UK

    3

    Borrow up to a maximum of £5m (finance terms are up to five years for term loans and asset finance, and three years for invoice finance)

    4

    Be suitable for a Close Brothers invoice finance facility (usually a B2B company with turnover of £500k or more per annum. If your projected income is less than £500k we may be unable to help you)

    1

    Be a viable UK-based business, with a turnover of more than £45m per annum

    2

    Borrow up to maximum of £100m with CLBILS (finance terms are up to three years

    3

    You have or will open an invoice finance facility with Close Brothers

    4

    Be suitable for a Close Brothers invoice finance facility (usually a B2B company with turnover of £500k or more per annum. If your projected income is less than £500k we may be unable to help you)

    How can I access the scheme through Close Brothers?

    The schemes are now closed to new applications. Applications received by 23.59 on 31 March 2021 can still be processed through to 31 May 2021.

    If you wish to discuss an outstanding application, please contact your account manager.

    Full details on eligibility criteria and the list of participating lenders can be found on the British Business Bank website at: 
    https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/

     

    CLBILS and CBILS diagram

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    Swift Square | Building 1
    Santry Demesne
    North Wood
    Dublin 9
    D09 A0E4

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