The recently announced CLBILS aims to support large businesses, and is now open for applications. It provides a government guarantee of 80% to enable banks to make loans of up to £25m to firms with an annual turnover of between £45m and £500m.

It will support a wide range of businesses to access finance products including short term loans, overdrafts, invoice finance and asset finance. More information will be added as it is released by the government.

Who is eligible?

You’re eligible if your business is based in the UK, has an annual turnover of between £45 million and £500 million and is unable to secure regular commercial financing.

You must also have a borrowing proposal which the lender would consider viable (if not for the coronavirus pandemic) and believes will enable you to trade out of any short-term to medium-term difficulty.

The scheme will be available through a range of accredited lenders. Read more