Is my business eligible?
To be eligible to be considered your business must:
Be based in the UK, with a turnover of more than £45 million per annum
Operate within an eligible industrial sector - your Relationship Team will be able to confirm this with you or you can confirm this by visiting the British Business Bank website
Have a sound borrowing proposal and be viable (notwithstanding the disruption caused by the current COVID-19 pandemic)
Please be aware that this is a government backed guarantee scheme. However, your business will always remain responsible for repayments of the whole (ie.100%) of the debt.
We will not take personal guarantees (PGs) as security for CLBILS lending below £250,000.
Please contact your Relationship Team who will talk to you about specific solutions that may be available to you.
Please note that applications are subject to status and the right to decline any application is reserved. The CLBILS scheme provides a guarantee to Santander UK plc and not to you or your business.
Government support for businesses
In addition to the above initiative, the Government have previously announced a number of schemes to support businesses through the disruption caused by coronavirus. These include:
a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
Businesses can find information on the whole range of support that the Government is offering at the COVID-19: guidance for employees, employers and businesses 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