Coronavirus Large Business Interruption Loan Scheme | UK-wide

Provides a government guarantee of 80% to enable banks to make loans of up to £200 million to firms with an annual turnover of over £45 million

Summary:

Provides a government guarantee of 80% to enable banks to make loans of up to £200 million to firms with an annual turnover of over £45 million

Eligibility criteria:

You’re eligible if:

You need to show that:

  • your business would be viable were it not for the pandemic
  • your business has been affected by coronavirus
  • the loan will enable you to trade out of any short-term to medium-term difficulty resulting from coronavirus

If you’re borrowing more than £50 million you must agree to restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. Check the eligibility requirements.

Who cannot apply
Businesses from any sector can apply, except:

  • banks, insurers and reinsurers (but not insurance brokers)
  • building societies
  • public-sector bodies
  • state-funded primary and secondary schools
Additional information:

You can apply for:

  • loans
  • revolving credit facilities (including overdrafts)
  • invoice finance
  • asset finance

A lender can provide up to 25% of your annual turnover. The maximum amount you can borrow is £200 million.

Finance is available from 3 months to 3 years.

There are 12 lenders taking part in the scheme including all the main retail banks. You should approach a suitable lender yourself via the lender’s website.

Support organisation:
  • British Business Bank
Search for other business support:

Search the Business Support Finder