U.K. COVID-19 Resources

The UK will set up a “Coronavirus Business Interruption Loan Scheme” (CBILS) which will provide two support schemes:

The first support scheme will provide guarantees that cover 80% of loan facilities for SMEs with a turnover of up to GBP 45 million (approximately €49 million) to cover their working and investment capital needs. This scheme will be implemented through the British Business Bank, a national promotional bank;
The second support scheme will provide direct grants to support SMEs affected by the coronavirus outbreak. The overall budget for this scheme is GBP 600 million (approximately 654M€). The beneficiaries of the schemes are SMEs active in all market sectors having temporary financial difficulties due to the economic impact of the coronavirus outbreak;
More information can be found ここ.

o The UK has also set out a broader a package of measures to support public services, people and businesses, including:

あ Coronavirus Job Retention Scheme,
Deferrals in VAT and income tax payments,
あ Self-employment Income Support Scheme,
A Statutory Sick Pay (SSP) relief package for SMEs. This refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19. Employers with fewer than 250 employees will be eligible.
A 12-month business rates holiday for all retail, hospitality, leisure and nursery businesses in England,
Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief. Local authorities will administer this grant,
Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a ratable value between £15,000 and £51,000.Local authorities will administer this grant,
A new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans,
Support for businesses paying tax through the HM Revenue and Customs’ (HMRC) Time To Pay Scheme. For more information, businesses can call HMRC’s dedicated helpline at 0800 0159 559.

Updated Information as of April 2, 2020

The Government has taken further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies.

Extended Coronavirus Business Interruption Loan Scheme (CBILS)

The Government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time.

The government is also stopping lenders from requesting personal guarantees for loans under £250,000 and making operational changes to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees.

Please find further details here: https://bit.ly/UpdatedCBILS

New Coronavirus Large Business Interruption Loan Scheme (CLBILS)

The new CLBILS will ensure that more firms are able to benefit from government-backed support during this difficult time. It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million.

Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced later this month.

Please find initial details here: https://bit.ly/NewCLBIL