A new support finder tool has been launched by the Government to help businesses and self-employed people across the UK quickly and easily determine what financial support is available to them during the coronavirus pandemic, click to find out more
The Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus large business interruption loan scheme (CLBILS) provide financial support to businesses across the UK that are losing revenue and seeing their cash flow disrupted as a result of the Covid-19 outbreak.
The schemes support a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities and can provide facilities of up to £5million for smaller businesses and up to £50million for large businesses.
Key features of the Coronavirus business interruption loan scheme (CBILS):
Key features of the Coronavirus large business interruption loan scheme (CLBILS):
The Bounce Back Loan scheme has been launched for small and medium-sized businesses borrow between £2,000 and £50,000. The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.
The scheme is being delivered through a network of accredited lenders. Find out more here.
The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
These convertible loans may be an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit.
The scheme is open for applications until the end of September 2020, click to find out more.
GRANTfinder – the UK’s leading provider of funding information to the business, voluntary and public sector – recently announced that all councils in the UK will receive six months’ free access to a new online funding portal.
Based on the highly successful Open4Business solution, which already allows many local authorities across the UK to support local businesses in their areas to identify funding to succeed and grow, the new portal offers a simple way for councils to promote available funding. The portal is updated regularly with new local, regional and national funding announcements and can be easily searched by businesses on the basis of their industry, region and business size. The portal then provides information on how to apply for funding and contact funders directly.
The tool allows you to search for funding based on your business type and is easy to navigate. It will be available until October 2020 and you can sign up to receive email notifications if something pops up that meets your criteria at a later date. Click here to download a guide to using the funding search tools.
Please click here to access the dedicated InvestSK portal and begin your search for funding now.
£200 million worth of funding has been made available for organisations in England. The fund is part of the Government’s £750m financial support package for charities and social enterprises announced by Government on April 8. They will distribute the Government funding alongside National Lottery funding, to support organisations to continue to deliver services to people and communities affected by COVID-19.
Find out more about eligibility and which organisations and projects are being prioritised, click here.
The Covid-19 Emergency Heritage at Risk Response Fund will award grants to help fund urgent maintenance, repairs and surveys at some of England’s locally-cherished historic buildings and sites.
The work funded will help heritage sites reopen to the public and thrive once again as quickly as possible – subject of course to Covid-19 restrictions. The business generated will help heritage specialists who, we know from our recent research, have been severely affected by the Covid-19 outbreak.
This, the second fund launched by Historic England to help the heritage sector recover from the effects of the pandemic, is a £3 million temporary funding stream. The deadline for expressions of interest is Sunday 28th June 2020. Click to find out more.