Coronavirus Business Interruption Loan Scheme (CBILS)
The Coronavirus Business Interruption Loan Scheme (CBILS) made loans from £50,000 to £5m available to small and medium-sized businesses with a turnover from £100,000 to £45 million. The government guaranteed 80% of the loan and paid the interest costs and any fees of finance for the first 12 months.
The Coronavirus Business Interruption Loan Scheme closed to new applications on 31st March 2021.
The scheme is managed by the British Business Bank on behalf of the government. Click here for a list of banks participating in the scheme
Note: The Coronavirus Business Interruption Loan Scheme is distinct from the Bounce Back Loan Scheme. Please see comparison table below
| Bounce Back Loan Scheme | Coronavirus Business Interuption Loan Scheme | |
| Amount you can borrow | £2,000 to £50,000 | £50,001 - £500,000 |
| Loan term length | 6 years (option to extend to 10 years) | 2 - 10 years (according to agreement) |
| Terms in first 12 months | £0 repayment and 0% interest | £0 repayment and 0% interest |
| Interest rate | 2.5% fixed | Set by the lender, typically 1.8% - 7.4% APR |