COVID-19 Updates and Business Support

We hope you are all keeping well and safe.

Over the last months we have been keeping a close eye on current developments of Covid-19 pandemic and on government plans how to keep safe during the virus outbreak and what opportunities are available for our portfolio and other UK businesses.

Below you can find information about the different government support schemes available for businesses and individuals due to the virus outbreak.

Coronavirus: The Government’s roadmap for how and when the UK will adjust its response to the COVID-19 crisis

LINK: Guidance: Closing certain businesses and venues in England

LINK: Coronavirus outbreak: what you can and can’t do

Working safely during coronavirus (COVID-19): Guidance to help employers, employees and the self-employed understand how to work safely during the coronavirus pandemic

We have compiled below information based on government guidance, as well as updates from other trade associations, to provide information what is available to public services, people and businesses through this period of disruption caused by COVID-19.

Coronavirus Business Interruption Loan Scheme (CBILS)

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.

CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria. Importantly, access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. Insufficient security is no longer a condition to access the scheme.

More information about who is eligible and how to access this scheme: British Business Bank website

Future Fund

The Future Fund will provide convertible loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal matched funding from private investors.

Under the scheme, early-stage, high-growth businesses from a diverse range of sectors can apply for a convertible loan of between £125,000 and £5 million to help them through the Coronavirus outbreak.

More start-ups and innovative firms will be able to apply for investment from the government’s Future Fund from Tuesday 30th June.

New changes to the scheme’s eligibility criteria will mean that UK companies who have participated in highly selective accelerator programmes and were required, as part of that programme, to have parent companies outside of the UK will now be able to apply for investment.

  • Future Fund portal is now open. Access here
  • The scheme is initially open for applications until the end of September 2020
  • Financing will be unlocked by additional third-party investment on a match funded basis
  • Applications submitted via an online platform based on a set of standard terms and eligibility criteria
  • The Future Fund will be allocated on a first come first served basis with the decisions being made only on eligibility not on any form of investment decision or merit

Full terms and eligibility criteria are available on British Business Bank website

Bounce Back Loan Scheme (BBLS)

The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. The government guarantees 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.

You can apply for a loan if your business is based in the UK and has been negatively affected by coronavirus.

Current accredited lenders and partners

The full rules of the scheme and guidance on how to apply is available on the British Business Bank website

Support for businesses in Scotland, Wales, Northern Ireland and Republic of 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. We have also included guidance for businesses in Republic of 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

Businesses in Republic of Ireland: Government supports for coronavirus impacted businesses


BVCA: Coronavirus Updates

HM Government Business Support: Coronavirus business support

HM Government: Find coronavirus financial support for your business

British Business Bank: Coronavirus business interruption loan schemes and fund

Federation of Small Businesses: Advice and guidance for small businesses and the self-employed

This page was last updated on Monday, 3rd August.


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