Coronavirus Business Interruption Loan Scheme (CBILS):
Our CBILS Loan repayment structure is simple and transparent. There are no hidden charges or extras like monitoring fees, review fees, security fees, or early repayment fees.
If you accept a CBILS loan offer, an arrangement fee applies, however this is paid for in full by the Government. For the first 12 months, the interest is also paid by the Government. From month 13 onwards, the interest is payable by the business.
Fees that may apply:
An administration fee of 15% of arrears may be applied to any repayments that are more than 7 days late.
If your loan is placed into default, we may charge an additional collections charge of up to 15% of the outstanding loan amount at the time of default. Read more here.
We may also charge enforcement and recovery costs and expenses, including legal fees and expenses or those incurred by third parties acting on our behalf, to cover litigation or enforcement of any loan contract.
Bounce Back Loan Scheme (BBLS):
No. Under the rules of the BBLS scheme, no fees are charged at any point.