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Apply for the Coronavirus Large Business Interruption Loan Scheme

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus.

The scheme helps medium and large sized businesses to access loans and other kinds of finance up to £200 million.

The government guarantees 80% of the finance to the lender.

If you’re a smaller business, you may be entitled to other government support.

Eligibility

You can apply for a loan if your business:

You need to show that:

  • your business would be viable were it not for the pandemic
  • your business has been affected by coronavirus
  • the loan will enable you to trade out of any short-term to medium-term difficulty resulting from coronavirus

If you’re borrowing more than £50 million you must agree to restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. Check the eligibility requirements.

Who cannot apply

Businesses from any sector can apply, except:

  • banks, insurers and reinsurers (but not insurance brokers)
  • building societies
  • public-sector bodies
  • state-funded primary and secondary schools

What you can get

You can apply for:

  • loans
  • revolving credit facilities (including overdrafts)
  • invoice finance
  • asset finance

A lender can provide up to 25% of your annual turnover. The maximum amount you can borrow is £200 million.

How long the loan is for

Finance is available from 3 months to 3 years.

Find out how to apply here.

 

 

EKW Group

Author EKW Group

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