Coronavirus Business Interruption Loan Scheme (CBILS)

The Coronavirus Business Interruption Loan Scheme is now closed to new applications.

Please note, applications received by 23.59 on 31 March 2021 can still be processed through to 31 May 2021. 

If you have a query about CBILS, or wish to discuss an outstanding application, please contact us here in the usual way.

DISCUSS MY CBILS LOAN

What Is the Coronavirus Business Interruption Loan Scheme (CBILS) ?

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through 40+ British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. 

The Coronavirus Business Interruption Loan Scheme (CBILS) has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the UK impacted by the Coronavirus crisis can access the funding they need. 

Insufficient security no longer a condition to access the scheme. 

Importantly, access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. This significantly increases the number of businesses eligible for the scheme. The expanded scheme will be operational with lenders from Monday 6 April 2020

Find out more

Scheme Features

Scheme Features

  • Nucleus Commercial Finance is accredited by the British Business Bank to provide finance facilities from £50,001 up to £250,000.
  • Terms of up to 6 years.
  • Interest and fees paid by Government for 12 months: The Government will make a Business Interruption Payment to cover the first 12 months of the agreement.
  • No Personal Guarantees for facilities under £250,000.
  • The borrower always remains 100% liable for the debt.
  • No guarantee fee for SMEs to access the scheme.

Recovery Loan Scheme

A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank  website

Frequently Asked Questions

No. The borrower will make no repayments for the first 12 months.

No. We will not be taking debentures or any other form of security.

Yes. We can provide a CBILS loan to a business with an existing BBLS loan, subject to the business agreeing to repay the BBLS loan in full. On step 2 of the application process, questions related to an existing BBLS loan need to be answered. 

Yes. We can provide an additional CBILS loan to a business with an existing CBILS loan, subject to the aggregated value of CBILS loans not exceeding £5m. On step 2 of the application process, questions related to an existing CBILS loan need to be answered.

No. We cannot provide a CBILS loan to these businesses.

The CBILS loan agreement is in line with our Cash Flow Finance product. The minimum term is 12 months and thereafter, the loan can be repaid along with 3 months interest.

No, you do not need to be a home owner for CBILS loans.

No. Unfortunately, you will not be able to appeal for different funding amounts or different pricing. Due to the strict reporting criteria we have to adhere to for CBILS applications set by the British Business Bank, we will not be able to review applications once declined, even if new information is provided.

Yes. You can apply for all Nucleus products via myNucleus.

More Information

Please note: The guarantee is to the lender, and not the small business Any queries from a business with an active or historic EFG facility, including guarantee fee collection or alterations to their repayment profile should raise them with their lender, and not with the British Business Bank.

Legal notice

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS