Coronavirus Large Business Interruption Loan (CLBILS) is a scheme whereby up to 40+ banks and financial institutions will lend money to medium sized and larger businesses which is partially guaranteed by the UK Government. Businesses can borrow up to the following without traditional forms of security
• £25m – where group turnover is between £45m and £250m
• £50m – where group turnover is greater than £250m
The scheme is for viable businesses who are experiencing lost or deferred revenues, leading to disrupted cashflow as a result of COVID-19. The lending bank will receive an 80% guarantee from the Government for losses if you default.
We have put together a brief summary sheet which gives an overview of the scheme, click here to view.
