Due to the challenging times we’re all experiencing, we’re dealing with a much higher number of calls from customers than normal.

So that our colleagues can help customers most in need, some Telephone Banking services are temporarily unavailable. Find out more.

 

Coronavirus Business Interruption Loan Scheme (CBILS)

Support for businesses with a turnover up to £45 million 

We are experiencing high levels of demand and are doing all that we can to support our customers at this time.

If Lloyds Bank do not already currently provide your main Business Current Account, please speak to your main bank for support in the first instance.

Key features of the CBIL scheme 

  • CBILS is a government-backed initiative for businesses with a turnover of up to £45 million
  • You can apply for a loan between £50,001 and £5 million*, for a term of up to 6 years 
  • You will not pay any interest or fees for the first 12 months of the loan 
  • A 12 month capital repayment holiday will be available at the start of the loan.

 

Important: 

  • If you have already received funding under the Bounce Back Loan Scheme, you cannot apply at this time
  • Your business will remain liable for repayment of the loan 
  • If you are unsure which option to borrow is most suitable, or if you require funds over a shorter term, please contact your Relationship Manager who can discuss this with you.

As a confirmed accredited lender of the government CBIL scheme, we’re here to support our customers during the coronavirus outbreak. 

If you require additional information about the scheme, please visit the British Business Bank website. 

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To be eligible for the British Business Bank's CBIL scheme:

 

You must be:

  • Using your Lloyds Bank Business Current Account as your main business account 
  • UK-based, with an annual group turnover of less than £45 million
  • Requiring funding as a result of the coronavirus pandemic. 

Your loan should be:

  • Less than twice your annual wage bill for 2019 or the last available year, or; 
  • Less than a quarter of your 2019 total turnover, or; 
  • Less than you’d need to cover your regular expenses over the next 18 months (12 months if you employ more than 250 people).

Industry eligibility

The following industries are not eligible under CBILS: 

  • Banks, insurers and reinsurers (but not insurance brokers)
  • Public-sector bodies
  • Further-education establishments if they are grant-funded, and
  • State-funded primary and secondary schools.

Check your eligibility for the scheme and find out how to apply

Please note that for loans up to £50,000, we have launched the new government-backed Bounce Back Loan Scheme (BBLS).

Check eligibility

What we’ll need from you:

  • Financial Accounts for the last 3 years showing profitability in order to demonstrate serviceability of your borrowing requirements
  • Understanding of what the directors/shareholders have contributed to support the business so far and what other measures have been taken to manage the business through the current challenges.

Dependant on individual circumstances we may require further information, however your experienced lending manager will be able to discuss this with you. 

ANY PROPERTY GIVEN AS SECURITY, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. 

*Fishery, aquaculture and agriculture businesses may not qualify for the full interest and fee payment.

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

Disclaimer: This is a provisional assessment of eligibility only. This is not an offer of support or confirmation that you'll be eligible for support. An offer of support will be dependent upon a full credit assessment and further checks to confirm scheme eligibility. 

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).

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