CLBILS Scheme to extended to businesses with a turnover above £45 million - Will open on Monday 20 April 2020

By Made In Group
schedule17th Apr 20

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will open on Monday 20 April 2020 to facilitate access to finance for medium-sized and larger businesses affected by the coronavirus outbreak.

The UK Government has announced the Coronavirus Large Business Interruption Loan Scheme (CLBILS) which will provide financial support to mid-sized and larger UK businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.

Specifically, the CLBILS scheme will facilitate access to finance for businesses with a turnover above £45 million, the upper limit for the existing smaller-business focused Coronavirus Business Interruption Loan Scheme (CBILS).

Approved lenders can now provide:

  • Up to £25 million to businesses with turnover from £45 million up to £250 million
  • Up to £50 million to businesses for those with a turnover of over £250 million

Finance will be available in the form of:

  • Term loans.
  • Revolving credit facilities (including overdrafts).
  • Invoice finance.
  • Asset finance.

For facilities above £250,000, personal guarantees may still be required, but claims cannot exceed 20% of losses after all other recoveries have been applied.

You can read more about this new CLBILS scheme over on the British Business Bank website, here.


Chat with us!

Live Chat

Welcome to our microsite, please tell us your name, company and email to chat with a member of the team.