Coronavirus Large Business Interruption Loan Scheme
Delivered by HM Government
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) supports large businesses, with an annual turnover of between £45 million and £500 million, to access loans of up to £200 million.
As of 26 May, the maximum loan size available under the scheme will increase from £50 million to £200 million to help ensure those large firms which do not qualify for the Bank of England’s Covid Corporate Financing Facility (CCFF) have enough finance to meet cashflow needs during the outbreak.
The scheme is delivered through commercial lenders, backed by the British Business Bank. The government will provide lenders with an 80% guarantee on individual loans for businesses that would be otherwise unable to access the finance they need.
The new scheme will be eligible to businesses that are:
UK-based in its business activity
Unable to secure regular commercial financing
All viable businesses with turnover of more than £45m will be able to apply for government-backed support
This complements existing support including the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme
You can access the Coronavirus Large Business Interruption Loan Scheme factsheet here.