As a result of the expansion of the scheme, personal guarantees of any form will not be taken for facilities below £250,000.
Above this level, personal guarantees may still be required, at the lender’s discretion, but:
recoveries are capped at 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied
a Principle Private Residence (PPR) cannot be taken as security to support a personal guarantee or as security for a CBILS-backed facility