Understanding your CBIL | Ulster Bank

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Understanding your Coronavirus Business Interruption Loan

If you’ve received lending under the Coronavirus Business Interruption Loan scheme (CBILS), find out more about your commitments and what you can do to prepare for when your repayments begin.

About Coronavirus Business Interruption Loan

  • The Coronavirus Business Interruption Loan scheme (CBILS) is a government initiative to support small and medium-sized businesses affected by the coronavirus outbreak
  • The government provides lenders like Ulster Bank, with a guarantee for 80% of qualifying loans
  • You will have to repay this loan in full including interest
  • The loan term is up to 6 years
  • For the full details of your specific loan and commitments, refer to the loan agreement you signed before receiving your loan

Any property or asset used as a security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

Your CBILS loan term

The maximum term of your CBILS loan is 6 years

You can make additional repayments at any time with no early repayment fee, and doing so will also help save you money on your interest rate.

CBILS loan interest rate

  • Interest on your CBILS loan will be a Fixed or Variable interest rate
  • The interest rate applied to your CBILS loan will be detailed in your loan agreement or advice letter if any changes have been applied
  • Interest during the first 12 months will be paid by the government. Remember that you are responsible for paying back the whole loan, including interest after the first 12 month period

Making repayments on your CBILS loan

12 month repayment holiday

  • Upon drawdown, we applied an automatic 12 month repayment holiday
  • Your repayments are due to start 1 month after the repayment holiday ends

Making your payments

  • You can make extra repayments or repay the loan early without penalty
  • You must repay the loan and interest in full by the final repayment date in your loan agreement

Your repayment account

  • You'll need a current or loan servicing account with us for your repayments 
  • Payments will be required to cover your monthly repayments and interest as advised

Preparing for your repayments to begin

What to do if you think you'll miss a repayment

Speak to your Relationship Manager as soon as possible.


If you don't have a Relationship Manager, please refer to your usual Bank contact.

Support if you're struggling financially

Where you have had a direct financial impact caused by the coronavirus, there may be support available to you. 


For more information about the government support available and how to access it, visit our government schemes page. 

More questions about CBILS?

Visit our Frequently Asked Questions to find further guidance and support

Get the right support during coronavirus

We understand these are difficult times, and if you're in need of a helping hand we're here to support you.

Find guidance and support on our coronavirus hub.

Visit the coronavirus hub

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.

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