Coronavirus Business Interruption Loan Scheme

We are dedicated to supporting you and your business during this unprecedented period. One way we can do this is by providing funding through our participation in the Coronavirus Business Interruption Loan Scheme.

Key benefits:

Should you be eligible and accepted for a CBILS Product you will not:

  • pay any arrangement fees on your product with us
  • pay any interest for the initial 12 months
Enterprise Finance Guarantee Scheme - Key features

The Coronavirus Business Interruption Loan Scheme (CBILS) is available for UK companies that have an annual turnover between £1,000 - £45 million.

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 CBILS lending below £250,000.

Is my business eligible?

To be eligible to be considered your business must:

  • Be based in the UK, with a turnover of no more than £45 million per annum
  • Operate within an eligible industrial sector - your Relationship Director 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)

Next steps

Please contact your Relationship Director who will talk to you about specific Overdraft and Loan options that may be available to you.

If you’re a Santander Business Banking customer, (and have less than 2 Directors/Shareholders/Partners), see our Business Overdrafts page for more information.

Important

Please note that applications are subject to status and the right to decline any application is reserved.

The CBILS 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 has announced a number of schemes over the past week to support businesses through the disruption caused by coronavirus.

These include:

  • a statutory sick pay relief package for SMEs
  • a 12-month business rates holiday for all retail, hospitality and leisure businesses in England
  • small business grant funding of £10,000 for all businesses in receipt of small business rate relief or rural rate relief; and
  • 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.

British business bank logo

The Coronavirus Business Interruption Loan programme 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. For full details visit The British Business Bank.

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