- Coronavirus Large Business Interruption Loan Scheme provides you with cashflow support due to Coronavirus or funding for investment
- No arrangement fee or guarantee premium
- Loan value up to £25m for Borrowers with a 2019 turnover of up to £250m, or £50m for Borrowers with a 2019 turnover greater than £250m
- Loan term can vary between 3 months to 3 years
You may be eligible for CLBILS if all of the following apply:
- Your business has been adversely impacted by coronavirus
- You operate in an eligible sector. Ineligible sectors can be found on the British Business Bank website
- Over 50% of your business turnover is generated from trading activity
- Your 2019 annual turnover is more than £45m
- Your business has NOT been subject to collections proceedings or collective insolvency procedings
The maximum loan value can be determined by one of the following three, you will need to self-certify as to which one applies:
- 2 x Annual wage bill as evidenced by 2019 accounts. Where the case of wage undertakings created on or after 1 January 2019, the maximum loan must not exceed the estimated annual wage bill for the first two years in operation.
- 25% of 2019 turnover as evidenced by 2019 accounts.
- With appropriate justification, an amount equal to the business’s liquidity needs for the next 12 months
You will need to have a sound borrowing proposition and be viable (notwithstanding short-term disruption).
Whether we provide credit depends on your circumstances, and you must be 18 or over. Lending terms and conditions apply.
You may need to provide security.
CLBILS is delivered by the British Business Bank, through Danske Bank as an accredited lender.
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
The provision of the CLBILS guarantee does not imply any endorsement or warranty of Danske Bank from the Secretary of State for Business, Energy and Industrial Strategy or the UK Government.