The Coronavirus Business Interruption Loan Scheme (CBILS) is a government initiative to support small and medium-sized businesses. The government provides lenders like Royal Bank, with a guarantee for 80% of qualifying loans.
Note, the borrower remains liable for all of the debt.
Borrow from £50,001 up to £5m.
Loan terms up to 6 years with fixed and variable interest rates available.
12 month capital repayment holiday is automatically applied at the start of the loan (this may mean you pay more interest over the term).
Interest for the first 12 months is paid by the government, and then by you for the remainder of the loan term.
Choose to make repayments at any time with no early repayment fee.