Skip to main content

Coronavirus Government Loan Schemes (Closed)

The Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme and Recovery Loan Scheme are now closed to new applications.

If you have a query about CBILS, CLBILS or RLS, or wish to discuss an outstanding application, please contact us your account manager, or speak to us on 0808 149 8521.

Recovery Loan Scheme

A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme opened on 6 April 2021 to support businesses affected by Covid-19 as they recover and grow following the pandemic. The scheme closed to new business on 30 June 2022.

Recovery Loan Scheme

 

Is my business eligible?

To be eligible for support via a CBILS/CLBILS facility, a business must:

    1

    Be a viable UK based business, with a turnover of no more than £45m per annum

    2

    Generate more than 50% of its turnover from trading activity and require a CBILS-backed facility to support trading primarily in the UK

    3

    Borrow up to a maximum of £5m (finance terms are up to five years for term loans and asset finance, and three years for invoice finance)

    4

    Be suitable for a Close Brothers invoice finance facility (usually a B2B company with turnover of £500k or more per annum. If your projected income is less than £500k we may be unable to help you)

    1

    Be a viable UK based business, with a turnover of more than £45m per annum

    2

    Borrow up to maximum of £100m with CLBILS (finance terms are up to three years

    3

    Not have received a facility under the Bank of England’s Covid Corporate Financing Facility (CCFF), or CBILS, or BBLS

    4

    Be suitable for a Close Brothers invoice finance facility (usually a B2B company with turnover of £500k or more per annum. If your projected income is less than £500k we may be unable to help you)

    How can I access the scheme through Close Brothers?

    The schemes are now closed to new applications. 

    If you wish to discuss an outstanding application, please contact your account manager.

    Full details on eligibility criteria and the list of participating lenders can be found on the British Business Bank website at: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/

    CLBILS and CBILS diagram

    Contact us

    Close Brothers Invoice Finance
    The Portland Building
    27-28 Church Street
    Brighton, BN1 1RN

    T: 0127 305 9530 *

    *Freephone from landlines

    Keep in touch