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Taxable grants of up to £2,500 per month are available for self employed qualifying individuals who have trading profits or partnership trading profits of less than £50,000.
Furloughed workers are employees whose employers cannot cover their staff costs due to coronavirus, and as such they have been asked to stop working but the employer does not want to make them redundant. Such employers will shortly be able to access support to continue paying part of their staff’s wages, to avoid redundancies and so they can retain their teams.
The Coronavirus Business Interruption Loan Scheme (CBILS) opens for applications today and supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities and can provide facilities of up to £5m for smaller…
This guidance sets out the criteria which central government considers for this purpose to be eligible for the Small Business Grant Fund (SBGF) and the Retail, Hospitality and Leisure Grant Fund (RHLGF).
Under the scheme, companies suffering cash flow problems as a result of the Covid-19 outbreak can apply for loans, overdrafts, invoice finance and asset finance facilities of up to £5 million. The finance is interest free for 12 months. Term facilities can be for up to six years with overdrafts and invoice finance facilities for up to three years. The Government provides a guarantee to the lender of 80% of the facility provided.
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