Business Interruption Loan Scheme (CBILS) Explained

The coronavirus business interruption loan (CBILS) is a form of financial support during COVID-19 for larger businesses, rather than the self-employed.

Business Interruption Loan (CBILS)

The CBILS loan offering larger businesses financial support of between £50,000 to £5m. The loans are being made by major banks and are 80% government-backed, to give lenders confidence that they will get repaid. In addition, the government will also make a one-off payment to cover the first 12 months of interest payments, to help reduce the cost and initial repayments.

Who Can Claim the Loan

The CBILS loan is available for UK business with a turnover of no more than £45 million per year who meet the British Business Bank eligibility criteria including having a viable business were it not for COVID-19 and not classed as a “business in difficulty”.

As part of the application processes business owners will need to provide the bank they are applying through with details of the loan and supporting documentation such as:

  • Cashflow forecast
  • Management accounts
  • Historic accounts
  • Details of why the loan is required, how it will be used and how the repayments will be made.

How to Apply for CBILS

There are 40 accredited finance providers including Barclays, Metro Bank and Natwest. Check here for a full list of providers.


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Anita Forrest
About Anita Forrest

Anita Forrest is a Chartered Accountant, spreadsheet geek, money nerd and creator of www.goselfemployed.co - the UK small business finance blog for the self-employed community. Here she shares simple, straight-forward guides to make self-employment topics like taxes, bookkeeping and banking easy to understand.