Coronavirus Business Interruption Loan Scheme (CBILS)

The deadline for applying for a CBILS loan or overdraft was 31 March 2021. Therefore, the scheme is now closed to new applications.

The Coronavirus Business Interruption Loan Scheme was a government scheme that provided lending facilities of £50,001 up to £5 million for smaller businesses across the UK who were impacted by coronavirus, by accessing lending through their bank.

Key benefits

  • Smaller businesses will benefit from no upfront costs and lower initial payment
  • No interest payable for the first 12 months from drawdown of the facility (for overdrafts, this is from when the facility is made available to you).

After the first 12 months, the borrower is liable for any interest or fees on the debt. The borrower will remain liable for repayment of 100% of the borrowing.

The interest rate is variable and based on the prevailing Bank of England base rate, plus the appropriate interest margin which will be determined by the financial status of your business.

Whilst under the scheme, personal guarantees will not be taken for borrowing under £250,000, the Bank will continue to adhere to its existing security requirements and may request debentures and commercial property as security where applicable and available. Security may be required for facilities over £250,000 including Personal Guarantees, but Primary Residential Property will not be taken as security under the scheme and recoveries under the Personal Guarantee are capped at a maximum of 20% of the outstanding balance of the CBIL facility after the process of business assets have been applied. The government provides a guarantee to the bank for the facility.

CBILS Loan early repayments

In order to complete a full early settlement, we require a letter signed in accordance with the account mandate* to be emailed to to be posted in for the attention of Government Backed Lending to:

Government Backed Lending

No.2 Cathedral Square

The Cloth Market

Newcastle Upon Tyne


For partial early settlements you can make a transfer to your loan account at any time over the phone via the telephony team on 03457 213 213 call charges or by sending a letter signed in accordance with the account mandate* to be emailed to Alternatively you can post this for the attention of Government Backed Lending to the above address.

If you have a Relationship Manager please email the above instruction to them in the first instance.

You can also overpay your loan by setting up a regular standing order for additional payments from your Co-operative Bank account, over the phone or online.

For each of these options, there is no early repayment fee however if security is to be released we would charge a £50 release fee for each item of security.

*If the loan is a partnership account it needs to be signed by all partners, not just as per the mandate.

Important documents

Important documents for customers who have opened a CBILS loan.

Other lending options

Now the Coronavirus Interruption Loan scheme has closed, we're no longer accepting applications but you may still be able to apply for our usual lending products.

View our business lending


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

Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website.

Standards of Lending Practice

The Co-operative Bank is one of the registered firms to subscribe to the Standards of Lending Practice which set the benchmark for good lending practices in the UK. The Standards outline the way registered firms are expected to deal with their customers throughout the entire product life cycle.

For more information on the The Standards of Lending Practice please visit the Lending Standards Board website.

You can also view further information on our commitments to our business customers and what we ask of you.