Support for larger firms through the COVID-19 Corporate Financing Facility

Under the Covid-19 Corporate Financing Facility, the Bank of England will buy short term debt from larger companies.

This will support your company if it has been affected by a short-term funding squeeze and allow you to finance your short-term liabilities.

It will also support corporate finance markets overall and ease the supply of credit to all firms.

The scheme is delivered through commercial lenders, backed by the Bank of England.

It will operate for at least 12 months, and for as long as steps are needed to relieve cash flow pressures on firms that make a material contribution to the UK economy.

Is my business eligible?

Companies – and their finance subsidiaries – that make a material contribution to the UK economy are able to participate. You can check if your company is eligible here 

How to access the scheme

The scheme is now available for applications. More information is available either through the Price Pearson team or the Bank of England website.


Coronavirus Large Business Interruption Loan Scheme

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus.

The scheme helps medium and large sized businesses to access loans and other kinds of finance up to £200 million.

The government guarantees 80% of the finance to the lender.

Is my business eligible?

You can apply for a loan if your business:

  • is based in the UK
  • has an annual turnover of over £45 million
  • has not received support under the Bank of England’s COVID-19 Corporate Financing Facility (CCFF)

You need to show that:

  • your business would be viable were it not for the pandemic
  • your business has been affected by coronavirus
  • the loan will enable you to trade out of any short-term to medium-term difficulty resulting from coronavirus

If you’re borrowing more than £50 million you must agree to restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. Check the eligibility requirements.

Who cannot apply

Businesses from any sector can apply, except:

  • banks, insurers and reinsurers (but not insurance brokers)
  • building societies
  • public-sector bodies
  • state-funded primary and secondary schools

What you can get

You can apply for:

  • loans
  • revolving credit facilities (including overdrafts)
  • invoice finance
  • asset finance

A lender can provide up to 25% of your annual turnover. The maximum amount you can borrow is £200 million.

Finance is available from 3 months to 3 years.

How to access the scheme

There are 12 lenders taking part in the scheme including all the main retail banks. You should approach a suitable lender yourself via the lender’s website.

You’ll need to tell the lender:

  • the amount you’d like to borrow
  • what the money is for
  • how long you’d like to pay it back

You’ll need to provide documents that show you can afford to repay the loan.

These may include:

  • management accounts
  • cash flow forecast
  • business plan
  • historic accounts
  • details of assets

The documents you need will depend on the lender. A loan could still be an option even if you do not have everything listed here.

The lender will check that the loan is:

  • for a suitable business purpose
  • affordable for you
  • the right type of finance for your needs

The lender will decide whether to offer you a loan or another type of finance. Your business will be responsible for repaying 100% of the amount you borrow.

Guidance and assistance is available from the Price Pearson team to obtain the right financial support for your company during this time.


Last updated: 08 Jun 2020 12:16 PM