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Coronavirus Business Interruption Loan

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A Government guarantee scheme available to business customers with a short to mid-term funding need due to the Covid-19 pandemic

 

Key features 

 

  • Minimum amount £25,001 – maximum £5,000,000 • Terms from 1 to 6 years
  • The Government provides Barclays with a guarantee for 80% of the loan, however, you are responsible for repaying 100% of the facility • A Business Interruption Payment (BIP) will be paid by the Government to Barclays covering interest plus arrangement and security fees for the first 12 months.
  • After the first 12 months, interest at an agreed margin over the Bank of England Bank Rate** will be payable.
  • A capital repayment holiday can be requested (subject to application) at the start of the loan or mid-term. • Monthly capital repayments will be payable at all other times.
  • Repay the loan early in full or in part, without incurring prepayment fees.

 

 

 

Barclays has developed a Coronavirus business support page which includes information on how to manage your money, help and support on cash flow and tips on staying safe from fraud. Click here to view. 

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