COVID-19 Updates and Support

We hope you are all keeping well.

Over the recent days we have been keeping a close eye on government plans and announcements how to keep safe during the virus outbreak and what opportunities are available for our portfolio and other UK businesses.

Here is some information we have found useful and want to share.

On 23 March the government, stepped up measures to prevent the spread of coronavirus and save lives.
Overview of Businesses and premises that must remain closed

  • Frequently clean and disinfect objects and surfaces that are touched regularly, using your standard cleaning products
  • Only go outside for food, health reasons or work (where this absolutely cannot be done from home – please see above link for more information)
  • Stay 2 metres (6ft) away from other people
  • Wash your hands as soon as you get home

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme (CBILS) is now available through participating lenders

The temporary CBILS supports SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.

The government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

This scheme exists and is only likely to be useful if you are a company with revenues and you should apply to your own bank to find out more.

More information about who is eligible and how to access this scheme:

Support for businesses in Scotland, Wales and Northern Ireland

Because some elements of business support are devolved, the measures you can access may differ if your business is in Scotland, Wales or Northern Ireland.

Businesses in Scotland: View the latest guidance on coronavirus for businesses in Scotland

Businesses in Wales: View the latest guidance on coronavirus for businesses in Wales

Businesses in Northern Ireland: View the latest guidance on coronavirus for businesses in Northern Ireland

USEFUL LINKS:

BVCA: https://www.bvca.co.uk/About-Us/Coronavirus-Updates

HM Government Business Support: https://www.businesssupport.gov.uk/

British Business Bank: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/

This page was last updated on Wednesday, 1st April.


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