Coronavirus (COVID-19) – Support for your business
As the impact of coronavirus is felt across the UK, you may have concerns about how it could affect your business.
We’ve put in place some additional support and information to help.
We’re keen to help protect our small business customers from the impacts of coronavirus and we’ve therefore introduced a £2 billion package of arrangement fee free finance for businesses with a turnover up to £25 million to help minimise disruption to your business operation over the coming weeks and months.
This support package has been designed to help you manage your ongoing cash flow needs caused by supply chain interruptions or employee absences. The financial support available includes:
1. No arrangement fees for new overdrafts or overdraft limit increases.
- For businesses with a turnover of up to £3m, please visit our Overdraft page for more information on how to apply for an overdraft
- For businesses with a turnover of £3-25m, please contact your relationship manager
- Existing clients – who have requests for increased facilities, please contact your Client Manager in the first instance who will be able to support
- New requests – to enquire about a new invoice finance facility please complete a quote or contact one of our dedicated invoice finance specialists on 0800 169 4356
In the 2020 Budget, the Chancellor announced a new Coronavirus Business Interruption Loan Scheme for businesses with a turnover up to £45 million, which will enable the continued provision of finance to UK businesses during the COVID-19 outbreak.
If you are eligible within our existing lending criteria, the British Business Bank scheme rules mean that this scheme does not apply.
More information can be found on the British Business Bank website.
All lending is subject to status.
ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk