Coronavirus – Support for your business
As the impact of coronavirus (COVID-19) 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.
Government-backed lending schemes
There are three main government-backed lending schemes available to businesses impacted by COVID-19:
- Bounce Back Loan Scheme (BBLS)
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Large Business Interruption Loan Scheme (CLBILS) – not available to customers who do not have a Relationship Manager.
Please note that as of 24 September, the Chancellor of the Exchequer has announced that the schemes will be extended until 30 November 2020. Scheme changes were also made to existing Bounce Back Loans and Coronavirus Business Interruption Loans. If you have an existing loan, we’ll provide further details shortly, there’s no need to contact us at this time.
In order to direct you to the appropriate scheme for your business, please select the relevant option below:
Asset Finance
If you are looking to acquire a new asset or finance an existing asset, but your business has experienced difficulties as a result of the coronavirus pandemic, the Coronavirus Business Interruption Loan Scheme may be available to support you.
Your Group turnover must be between £3million and £45million to be eligible to apply.
Financial support for your business
We have designed a £2 billion support package to help your business over the coming weeks and months.
For more information on the Bounce Back Loan Scheme (BBLS) or Coronavirus Business Interruption Loan Scheme please visit our Government-backed lending schemes pages.
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