The Coronavirus Large Business Interruption Loan Scheme (CLBILS) was designed to facilitate access to finance for medium-sized and larger businesses affected by the coronavirus outbreak.
CLBILS closed for new applications on 31 March 2021.
About the scheme
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provided finance to mid-sized and larger UK businesses with a group turnover of more than £45 million (the upper limit for CBILS, which focused on smaller businesses) that were suffering disruption to their cashflow due to lost or deferred revenues during the COVID-19 outbreak.
How CLBILS worked
CLBILS was available through a range of accredited lenders and partners.
A lender could provide up to £200 million in the form of:
- term loans
- revolving credit facilities (overdrafts)
- invoice finance
- asset finance
The scheme gave the lender a government-backed partial guarantee (80%) against the outstanding balance of the facility. The borrower always remained fully liable for the debt.
Under CLBILS, a lender took no form of personal guarantee for facilities below £250,000. For facilities above £250,000, the lender could still require personal guarantees, but claims could not exceed 20% of losses after all other recoveries had been applied.
View the CLBILS FAQs for more details.
A tribunal hearing took place at the end of November 2022 following requests under the Freedom of Information Act for disclosure of information regarding borrowers under various Covid-19 loan schemes.