Coronavirus Business Interruption Loan Scheme (CBILS)
The Coronavirus Business Interruption Loan Scheme is now closed to new applications.
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Your CBILS loan term
- The maximum term of your CBILS loan is 6 years. The loan term may be extended to a maximum 10 years in exceptional circumstances and at Lender discretion.
- You can make additional repayments at any time with no early repayment fee, and doing so will also help save you money on your interest payments.
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Your CBILS loan interest rate
- Interest on your CBILS loan will be a Fixed or Variable interest rate
- The interest rate applied to your CBILS loan will be detailed in your loan. agreement or advice letter if any changes have been applied.
- Interest during the first 12 months will be paid by the government. Remember that you are responsible for paying back the whole loan, including interest after the first 12 month period.
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12 month repayment holiday
- Upon drawdown, we applied an automatic 12 month repayment holiday
- Your repayments started 1 month after the repayment holiday ended
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Making your payments
- You can make extra repayments or repay the loan early without penalty
- You must repay the loan and interest in full by the final repayment date in your loan agreement
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Your repayment account
- You'll need a current or loan servicing account with us for your repayments
- Payments will be required to cover your monthly repayments and interest as advised
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Any property or asset used as a security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
Need to get in touch?
Cora, your digital assistant can quickly help with many of your questions. Cora has already assisted hundreds of customers with government loan scheme queries. If Cora can't help, she'll put you in touch with a specialist.
Message us anytime on WhatsApp
For help with your Business Banking queries, you can now chat with us securely on WhatsApp.
Working with British Business Bank
BBLS, CBILS and CLBILS are managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary for State for Business and Trade (formerly Business, Energy & Industrial Strategy-BEIS).
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.
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