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.
Managing Your Business
Coronavirus Business Interruption Loan Scheme
You need strategies and solutions to help you navigate an uncharted environment
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
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
Useful Links
Coronavirus Business Interruption Loan Scheme FAQS
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).
