CBILS Variable Rate Loan

If you need lending support during the Coronavirus outbreak, we're helping business customers by offering variable rate loans through the Coronavirus Business Interruption Loan Scheme (CBILS). CBILS helps customers with a variable rate loan by ensuring that they don’t need to pay any interest and arrangement fees for the first 12 months.

CBILS loans are available to existing Co-operative Bank Business customers only, with options to borrow between £50,001 to £5million, depending on your business entity type, with a repayment period of between 3 months and 6 years.

CBIL Scheme exclusions

All sectors can apply excluding:

  • Banks, insurers and reinsurers (but not insurance brokers)
  • Public-sector bodies
  • Further-education establishments, if they are grant-funded
  • State-funded primary and secondary schools
  • Pension schemes

A full list of eligible and excluded sectors can be found here:

Ineligible and Restricted Eligibility Sector list

Product features

  • Apply to borrow between £50,001 and £5 million
  • Repayment period is between 3 months and 6 years
  • Interest is charged on a monthly basis
  • For CBILS variable rate loans, you will not have to pay any arrangement fees or interest charges for the first 12 months.
  • After the first 12 months, you will be liable for any interest or fees. You will remain liable for repayment of 100% of the borrowing.
  • Loans may be offered on an unsecured or secured basis (there may be additional valuation and/or legal fees where security is required).
  • The interest rate is 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
  • Asset purchases must be in the name of the borrower / business (not director / shareholder)
  • We do not lend for residential property development / investment, pension funds or to businesses domiciled outside of the UK.


The amount you’re requesting must be within at least one of the following thresholds. As part of your application, you will be asked to tell us which threshold your proposed borrowing is within, and you'll be required to provide any documentation you have to evidence this:

  • Double the annual wages bill of the business (including social charges as well as the cost of personnel working on the business’ site but formally in the payroll of subcontractors) for 2019, or the last year available. If the business was established on or after 1 January 2019, the business will need to provide an estimated annual wage bill for the first year of its operation;
  • 25% of the turnover of the business in 2019; or
  • the cash flow needs of the business from the moment the facility is granted for the coming 18 months (or for the coming 12 months, if the business has more than 250 employees). The business cash flow plan may include both working capital and investment costs.

Paying back the loan

In order to complete a full early settlement, we require a letter signed in accordance with the account mandate to be emailed to relationshipsupport@co-operativebank.co.uk or to be posted in for the attention of Relationship Support to:

Relationship Support

3rd Floor Balloon Street


M60 4EP

For partial early settlements you can make a transfer to your loan account via online banking 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 relationshipsupport@co-operativebank.co.uk. Alternatively you can post this for the attention of Relationship Support 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.

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.

To apply, you and the key parties must meet the following criteria

Our lending criteria

  • Be 18 years or over
  • Be a UK resident
  • Be an account signatory with authority to borrow on behalf of the business
  • Hold a business current account with The Co-operative Bank
  • Require the lending for business use
  • Your business aligns to our Ethical Policy.

CBILS eligibility criteria

  • Able to self-certify that your business has been impacted by the coronavirus (COVID-19)
  • Be a UK-based business, with a total annual group turnover of no more than £45 million
  • Looking for business funding ranging from £50,001 up to £5million
  • Your business must generate more than 50% of its turnover from trading activity
  • You're able to confirm that your business generates more than 50% of its turnover from trading activity (Further Education establishments and registered charities are exempt)
  • Business not subject to collections or collective insolvency proceedings – this is part of The Co-operative Bank’s eligibility criteria.

Your application is subject to status and based on an assessment of your financial circumstances.

We aim to give you a decision within 10 business days of all the information being received. Occasionally, we may require additional information depending upon your circumstances.

If you don't meet the CBILS eligibility you may still be able to apply for our usual range of lending.

Visit our lending hub

How to apply

To apply you need to complete and return:

  • the relevant CBILS Loan application form for your business entity

CBILS Loan application for Sole traders & Partnerships

Download CBILS Loan application for Sole traders & Partnerships PDF

CBILS Loan application for all other for-profit organisations

Download CBILS Loan application for all other for-profit organisations PDF

CBILS Loan application for community organisations

Download CBILS Loan application for community organisations PDF

Important documents

You must read the important documents below and save a copy for future reference

CBILS pre-application information

Download CBILS pre-application information PDF

CBILS Loan Terms and Conditions

Download CBILS Loan Terms and Conditions PDF

Standards of Lending Practice

Download Standards of Lending Practice PDF

How we use your personal information

Download How we use your personal information PDF

Once you have completed all sections of the relevant CBILS loan application and signed the CBILS Data Protections and Disclosure Declaration please email to: rm.applications@co-operativebank.co.uk

This email address is to pick up lending requests only. Any emails received that do not contain a lending request, we will unfortunately be unable to respond to.

If you would prefer not to send your personal information by email, you have the option to post your application to us at:

Lending Services

The Co-operative Bank p.l.c

P.O. Box 200



If you do post your application, we’ll process it within 10 days of it reaching us.


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 british-business-bank.co.uk

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

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