How does it work?
CBILS/CLBILS funding could be added onto your invoice finance facility if your otherwise viable business has been adversely impacted by the COVID-19 pandemic and the provision of finance will enable you to trade out of any short-to-medium term difficulties.
The facility is underwritten, approved and managed by Close Brothers, and repayments are paid directly to us, just like any other business loan. We offer CBILS facilities of up to £5m over a maximum term of five years and CLBILS facilities of up to £100m over a maximum term of three years.
The guarantee is to Close Brothers ("the lender"), and not the business. As with any other commercial transaction, the borrower is responsible for repayment of the full value of any facility supported by CBILS/CLBILS.
The Coronavirus Business Interruption Loan Scheme (CBILS) and The Coronavirus Large Business Interruption Loan Scheme (“CLBILS”) are 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 (BEIS).
Please note: Close Brothers can only provide CBILS/CLBILS loans to invoice finance customers. We do not offer standalone loans at any time.