Launched in response to the coronavirus outbreak, the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Bounce Back Loan Schemes (BBLS) were designed to support UK businesses during this period of disruption.
Almost 1.5m businesses across the UK have taken COVID-19 financial support, but time is running out as the schemes are due to end on the 31st March 2021.
Here’s a reminder of what each scheme is:
CBILS
Who? Limited Companies and Limited Liability Partnerships (turnover less than £45m)
What? Lending facilities of £50,001 to £5,000,000 (personal guarantees of any form will not be taken for facilities below £250,000)
Application deadline? 31st March 2021
CLBILS
Who? Limited Companies and Limited Liability Partnerships (turnover more than £45m)
What? Lending facilities up to £50m
Application deadline? 31st March 2021
BBLS
Who? Limited Companies, Limited Liability Partnerships and Sole Traders
What? Loans of up to £50,000
Application deadline? 31st March 2021
Speak to an expert
Whether you’re ready to apply for your first CBILS loan, are eligible to take out a second or are seeking an alternative finance option, our experts can help. Book a FREE appointment with our Corporate Finance team here.