What is a CBILS Loan?

By Business Helpline

06 Dec 2022

The CBILS (Coronavirus Business Interruption Loan Scheme) was a government scheme designed to provide financial support during the Coronavirus pandemic to small and medium-sized businesses. It was announced in March 2020.

The Cbils loan scheme paid out a massive £26.39bn up to May 2021. There were 251,342 applications for the loan, of which 109,877 were accepted.

CBILS LOAN TERMS

The Cbils loans were designed for SMEs with a turnover of less than £45m. They provided finance of between £50,001 and £5m which included term loans, overdrafts, invoice, and asset finance.

In order for a business to apply for a Cbils loan, a business had to have been able to self-certify it had been negatively affected by the impact of Covid-19 to be eligible. However, public-sector bodies, state-funded primary and secondary schools, banks, insurers, and reinsurers weren’t allowed to apply.

There were over 90 accredited lenders for the Cbils loan and there was only a personal guarantee required for borrowing amounts of over £250,000.

The Cbils loan had to be paid over a period of 3 years for overdrafts and invoice finance facilities. And up to 6 years, for loans and asset finance facilities.

There was an option to extend these loans with some lenders to 10 years.

IS CBILS LAON THE SAME AS BOUNCE BACK LOAN?
The Cbils loan was part of the same Government package as the Bounce Back Loan, alongside the Coronavirus Large Business Interruption Loan Scheme (CLBILS). However, the Cbils loan was a different scheme.

Whereas the Bounce Back Loan Scheme loaned up to £50,000 the Cbils loan scheme loaned from £50,001 up to £250,000.

ARE CBILS LOANS STILL AVAILABLE?

No the loans closed for applications in March 2021. They were essentially a loan package available to support businesses struggling with the impact of the Covid-19 pandemic.

CAN YOU HAVE MORE THAN ONE CBILS LOAN?

Businesses were only allowed to apply for one Cbils loan and they weren’t allowed to apply if they had an existing Bounce Back Loan or CLBILS.

CBILS INTEREST RATES

The Government guaranteed 80% of the finance to lenders and paid interest and any fees for the first 12 months of the loan.

After this period the loans were charged at 3.49% over the Bank of England base rate for loans up to and including 3 years.

For loans over the period of 3 years, they were charged at 3.99% over the Bank of England base rate.

CAN I REPAY MY CBILS LOAN EARLY?

Yes, there is the option for early repayment and there is no early repayment fee. This is a great option to save you money on interest payments.

WHAT HAPPENS IF I CAN’T REPAY MY CBILS LOAN?

If you can’t pay back a Cbils loan this often denotes greater problems within a business so you may need to look at alternative options.

Businesses are held liable for Cbil loans throughout unless the company enters a liquidation.

If you can’t pay back your Cbils loan we offer confidential, expert advice to company directors. We’ll talk through your individual circumstances and help you find the best solution for you and your business.

You can contact Business Helpline by email at [email protected] or call us on 0800 088 2142.

Our highly trained experts have over 60 years experience and have helped thousands of company directors just like you. 

Latest news

1

Three weekly domestic waste collection considered in plans Waste recycling Blackpool

Three weekly domestic waste collection considered in plans

01 Jul 2025

2

Graham Engineering confirms acquisition to a2e Industries Graham Engineering

Graham Engineering confirms acquisition to a2e Industries

01 Jul 2025

3

Training 2000 celebrate 'Good' rating by Ofsted Training 2000

Training 2000 celebrate 'Good' rating by Ofsted

01 Jul 2025

4

Fox Group acquires J Fisher and Sons Colin Fisher, Paul Fox CEO and Gary Fisher.

Fox Group acquires J Fisher and Sons

01 Jul 2025

5

Beever and Struthers strengthen leadership team with new partners Dean Curtis and Joe Diston

Beever and Struthers strengthen leadership team with new partners

01 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Chamber Breakfast Networking – July
Chamber Logo1.png.png
LBV Hub Networking
02 Jul 2025 - 02 Jul 2025

Chamber Breakfast Networking – July

St John's Hospice, Slyne Road, Lancaster, LA2 6ST

08:00 - 10:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Tri-Site Survey Equipment Showcase
unnamed (2).jpg.jpg
LBV Hub Seminars
09 Jul 2025 - 09 Jul 2025

Tri-Site Survey Equipment Showcase

Crow Wood Hotel, Burnley, BB12 0RT

09:30 - 16:00

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin