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.