Coronavirus Large Business Interruption Loan Scheme

CLBILS aims to support the continued provision of finance to medium-sized and larger businesses in the UK during the Covid-19 outbreak. The scheme, managed by the British Business Bank (BBB) and delivered through around 20 accredited lenders, provides the lender with a government-backed guarantee, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’. Note: The borrower remains fully liable for the debt.

Under CLBILS, we can provide facilities of up to £50 million to medium-sized and larger businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cash flow.

The scheme supports a wide range of business finance products, including term loans, revolving credit facilities, invoice finance and asset finance facilities.

Please note: The maximum amount available through CLBILS is £200 million. Anyone wishing to borrow more than £50 million should visit the British Business Bank website to find another accredited lender. This scheme is just one of a number of measures announced by the UK government to support businesses through the disruption caused by Covid-19. Details of all the measures can be found here.

Under CLBILS, we can provide facilities of up to £50 million to medium-sized and larger businesses that are struggling financially as a result of COVID-19. The types of facilities available are as follows: 

• term loans of £5 million to £50 million for between 3 months and 3 years
• revolving credit facilities (overdrafts) from £5 million to £50 million
• asset finance facilities from £5 million to £50 million
• invoice finance from £5 million to £50 million

Businesses with a turnover from £45 million up to £250 million can borrow up to £25 million; businesses with a turnover of over £250 million can borrow up to £50 million. The maximum loan size is up to 25% of the business’s turnover for 2019. 

To help you understand if you may be eligible to apply for a CLBILS-backed facility, please ensure you can answer yes to all the points below:

Your application must be for business purposes and the business must have been adversely impacted by Covid-19.

1. You must be a UK-based medium-sized or larger business with an annual turnover of more than £45 million.
2. Your business must generate more than 50% of its turnover from trading activity.
3. Your CLBILS-backed facility will primarily be used to support trading in the UK.
4. You wish to borrow up to a maximum of £50 million.
5. Your borrowing proposal would be considered viable, were it not for the current pandemic.
6. You have not received a facility under the Bank of England’s Covid-19 Corporate Financing Facility (CCFF), or CBILS or BBLS.
7. You are not a credit institution, insurer, reinsurer, building society, public-sector body or state-funded primary or secondary school.

Investec will need further information to confirm eligibility. This is a quick reference guide and is not a confirmation of approval. All lending decisions remain fully delegated to accredited lenders.

Full details on CLBILS eligibility criteria can be found on the British Business Bank website.

• As with any other commercial transaction, the borrower is always responsible for the repayment of the full value of any facility supported by CLBILS.
• The government guarantee is to the lender, not the borrower.