Coronavirus Business Interruption Loan Scheme

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

Features of the Scheme, at a glance:

  • A Government guaranteed loan to viable businesses with a sound borrowing proposal

  • No fee was required for the Government guarantee

    Originally available for sums of £50,001 to £5,000,000

  • Variable and fixed interest rate options

  • An interest free period of 12 months applied, after which the interest was charged as follows:

    • 3.49% over Bank of England Base Rate1 for loans up to and including 3 years
    • 3.99% over Bank of England Base Rate1 for loans over 3 years

    1: Variable debit interest is payable on your loan and tracks the Bank of England Base Rate. If the Bank of England Base Rate falls below zero, we will treat it as zero.

  • No repayment of capital was required during the period of 12 months from drawdown

  • The loan was repayable over any period up to 6 years

Important Information

Coronavirus Business Interruption Loan Scheme FAQS

General information

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

The Coronavirus Business Interruption Loan Scheme (CBILS) was designed to support existing HSBC UK customers who had a borrowing need which we would have considered viable were it not for the COVID-19 pandemic.

Customers remain liable for the entire loan amount and we’ll seek to recover the outstanding balance of the loan, as well as the proceeds of any security, or any security provider on their behalf, given for the loan. Only after this will we look to realise the government guarantee.

What’s happening to the old Enterprise Finance Guarantee Scheme (EFG)?

The EFG scheme is temporarily suspended at this point in time. If you wish to apply for a financing facility, we will be able to assess if you are eligible under CBILS.

When did CBILS close?

CBILS was open for applications until 31 March 2021 at 11.59pm.

What happens if I can’t make the payment on my existing CBILS loan after the first 12 months?

If you are concerned that you cannot meet the repayments on your loan after 12 months, then either:

  • Call your Relationship Manager or;
  • If you don’t have a Relationship Manager, call the Coronavirus Customer Support Line as soon as possible on 08000 121 614 (from 08:00 – 18:00 Monday to Friday)

We’ll assess your situation and discuss your options.

Am I able to extend my term to 10 years for my existing CBIL?

A term extension beyond 6 years, up to a maximum of 10 years for existing CBILS facilities may be possible if your loan is within our usual forbearance policies. To apply for this, please either: Call your Relationship Manager or;

If you don’t have a Relationship Manager, call the Coronavirus Customer Support Line as soon as possible on 08000 121 614 (from 08:00 – 18:00 Monday to Friday)

CBILS is delivered by the British Business Bank, through HSBC UK as an accredited lender. CBILS will support the continued provision of finance to UK SMEs during the Covid-19 outbreak. 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).

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