Coronavirus Business Interruption Loan Scheme (CBILS) (Scheme closed 31 March 2021)

For the first 12 months, you are not required to pay any interest and arrangement fee. You will be able to see the interest and fees that apply to your overdraft facility on your facility letter and then on the monthly statement. Interest will be refunded at the same time as it is applied to your account. Please note that you will be fully liable for repayment of all borrowing.

The CBILS overdraft will work in very much the same way as a standard business overdraft. You will need to choose the product that best meets the need of your business now and have a plan to repay the overdraft. But for the first 12 months you will not be required to pay arrangement fees and interest.

All of TSB's overdraft can be up to a 12-month term. After this, you can apply to renew within the scheme for a total of three years, subject to status. But please note that you will be liable to pay our CBILS interest rate and standard arrangement fee after the initial 12 months.

For the first 12 months, you are not required to pay any interest.

Our CBILS interest rates and standard arrangement fee will apply at renewal. Interest rates will reflect the benefit and cost of the guarantee granted to TSB by the government.

The arrangement fees applicable to a CBILS overdraft are the same as would apply for a standard business overdraft. However, for a CBILS overdraft you are not required to pay the arrangement fee applicable for the first 12 months.

We will not require any personal guarantees to support CBILS borrowing from £50,001 to £250,000. However, a tangible security (e.g. commercial property) may be required for certain borrowing, this will be confirmed to you at the time of application. We will never seek a charge over your or your personal guarantor’s home.

Q. What affect will this have on my CBIL facility?
A. There is no change to your facility held with TSB.

Q. Will this affect my Pay As You Grow options?
A. No, this is a notification and will not affect your facility, including Your Pay As You Grow options.

Q. Why was I not advised of this when I took out my CBIL facility? (See answer below)
Q. If I repay my loan, will my data still be shared? (See answer below)
Q. I have already repaid my CBIL facility, why am I receiving this letter? (See answer below)
Q. Why is my data being reported to the European Commission? (See answer below)

A: This is a government notification, you can find more information at BEIS Privacy Notice & BBB Privacy Notice.

For further information about data reporting to the European Commission and the UK Government please see the BEIS Q&As and the BBB Q&As.

You can contact BBB by emailing to enquiries@beis.gov.uk for any questions you have about this letter.