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.
Recovery Loan Scheme
A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which opened on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website.
Government support for businesses
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.