Content from Chelmsford City Council
Businesses will be able to access government support from Monday 23 March to keep operating in the face of the global economic emergency brought on by coronavirus.
For small and medium sized businesses, the new Coronavirus Business Interruption Loan Scheme is now available for applications. This scheme will help any viable business with a turnover of up to £45m to access government-backed finance of up to £5 million. Interest payments and any lender-levied fees for businesses will be covered by the Government for an initial period of up to twelve months.
The government will provide lenders with a guarantee of 80% on each facility to give lenders further confidence in continuing to provide finance to SMEs. The scheme is available through more than 40 accredited lenders, which are listed on the British Business Bank website.
Find current information on these specific business support topics:
- Coronavirus Business Interruption Loans
- Business Rates Holiday for Retail, Hospitality and Leisure
- Cash Grant for Retail, Hospitality and Leisure
- Small Business Grant Funding
- Statutory Sick Pay Rebate
- Time to Pay
- Business Rates Holiday for Nurseries
- VAT Deferral
- Income Tax Deferral for the Self-Employed
- Coronavirus Job Retention Scheme