Understanding your Coronavirus Business Interruption Loan

If you’ve received lending under the Coronavirus Business Interruption Loan scheme (CBILS), find out more about your commitments and what you can do to prepare for when your repayments begin.

About Coronavirus Business Interruption Loan

  • The Coronavirus Business Interruption Loan scheme (CBILS) is a government initiative to support small and medium-sized businesses affected by the coronavirus outbreak
  • The government provides lenders like Royal Bank of Scotland, with a guarantee for 80% of qualifying loans
  • You must repay this loan in full including interest
  • The loan term is up to 6 years 
  • For the full details of your specific loan and commitments, refer to the loan agreement you signed before receiving your loan

Your CBILS loan term

CBILS loan interest rate

  • Interest on your CBILS loan will be a Fixed or Variable interest rate
  • The interest rate applied to your CBILS loan will be detailed in your loan agreement or advice letter if any changes have been applied
  • Interest during the first 12 months will be paid by the government. Remember that you are responsible for paying back the whole loan, including interest after the first 12 month period

Making repayments on your CBILS loan

12 month repayment holiday
  • Upon drawdown, we applied an automatic 12 month repayment holiday
  • Your repayments are due to start 1 month after the repayment holiday ends

Making your payments
  • You can make extra repayments or repay the loan early without penalty
  • You must repay the loan and interest in full by the final repayment date in your loan agreement

Your repayment account
  • You'll need a current or loan servicing account with us for your repayments 
  • Payments will be required to cover your monthly repayments and interest as advised

Preparing for your repayments to begin

Do you have more questions about CBILS?

Visit our Frequently Asked Questions to find further guidance and support

If you need to get in touch...

The quickest way to get in touch is via our webchat service, Cora. Using webchat, you can:

• get help with an existing loan

• talk to us about other support

If you are using Relay UK call 18001 0345 711 4477
See how we're making our site more accessible

Calls may be recorded for training and monitoring purposes.
To find out how much your call might cost, see our call charge information page

Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy.

British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.

Visit british-business-bank.co.uk

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