Scheme
Closed
March 2021
Replaced By
Growth Guarantee
Scheme
GGS Facilities
Up To
£2 Million
Whole-Of-Market
Lender
Panel
Scheme closed. CBILS stopped accepting new applications at the end of March 2021 and no new CBILS facilities can be arranged. If you are looking for business funding today, the sections below explain what replaced the scheme and what is currently available. If you already have a CBILS loan, speak to the lender that provided it — we cannot administer or vary a facility we did not arrange.
This page is kept online as a reference because CBILS is still widely searched for and still widely misunderstood.
What CBILS Was
The Coronavirus Business Interruption Loan Scheme launched in early 2020 as part of the government’s pandemic response. It gave accredited lenders a government guarantee on facilities to UK businesses whose trading had been disrupted by Covid-19, covering term loans, overdrafts, invoice finance and asset finance from £50,001 up to £5 million.
CBILS ran alongside the Bounce Back Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme. All three closed at the end of March 2021, by which point the three schemes together had disbursed over £79 billion.
Two features of CBILS are worth remembering, because they are still commonly misunderstood:
- The guarantee protected the lender, not the borrower. The business always remained fully liable for repaying the debt.
- The government covered the first 12 months of interest and lender fees through the Business Interruption Payment. That support ended with the scheme and has not been repeated.
What Replaced CBILS
The Recovery Loan Scheme took over in April 2021 and ran until 30 June 2024. It was succeeded on 1 July 2024 by the Growth Guarantee Scheme (GGS), delivered through the British Business Bank. GGS is the government-backed scheme in place today.
GGS is not a Covid support measure. It is a general-purpose scheme intended to help smaller UK businesses access finance for investment and growth. As things stand:
- Turnover limit: up to £45 million, with an increase to £54 million announced
- Maximum facility: generally £2 million per business group
- Minimum facility: £25,001 for term loans and overdrafts; £1,000 for asset finance, invoice finance and asset-based lending
- Terms: up to six years for term loans and asset finance, up to three years for other products
- Guarantee: 70% to the lender — the borrower remains 100% liable for the debt
- Security: personal guarantees are at the lender’s discretion, but a principal private residence cannot be taken as security
In July 2026 the Chancellor announced an expansion of the scheme’s capacity, unlocking a further £6.5 billion of lending over the following four years. Access is through British Business Bank accredited lenders, and each lender applies its own credit criteria on top of the scheme rules. A business that fits the scheme on paper can still be declined on affordability, sector or security grounds.
Funding Options Available Now
Most businesses that would once have looked at CBILS are better served by mainstream commercial funding, which has broadened considerably since 2021. Depending on what you are trying to achieve:
- Business loans — working capital, expansion, or refinancing existing debt
- Invoice finance — release cash tied up in your sales ledger
- Asset finance — fund vehicles, plant and equipment, or raise capital against assets you already own
- Merchant cash advance — repayments that flex with your card takings
- Commercial mortgages — purchase or refinance trading premises and investment property
Speak To Us About Current Funding Options
We are a commercial finance brokerage based in Bolton, working with UK businesses across the North West and nationally. Tell us what you need to fund and what your accounts look like, and we will tell you where you realistically stand — rather than pointing you at a scheme that closed five years ago.
Fill in the form below and one of our team will be in touch within one working day.
Bolton Business Finance Ltd is a commercial finance broker. We arrange non-regulated business and commercial property finance only. We are not authorised or regulated by the Financial Conduct Authority and we do not advise on or arrange regulated mortgage contracts or consumer credit. Information on this page about government-backed schemes is provided for general guidance and reflects our understanding at the time of writing; scheme rules and availability change, and eligibility is determined by the lender. This page is not advice.