Covid-19 has led to many financial challenges for the business sector. Many business owners will be looking for options and advice whether it be grant funding or raising finance. Rishi Sunak, Chancellor of the Exchequer, has announced a series of emergency measures to support businesses during these challenging times.
The financial professionals at Verde Corporate Finance have created a range of advice articles that have been made available to the public. These aim to highlight the Chancellors measures to support businesses through this period of uncertainty.
Government Covid-19 support
Coronavirus Business Interruption Loan Scheme (CBILS)
The government are now offering loans of up to £50 million for larger businesses which are 80% guaranteed. Banking professional, Dave Shalliday, has shared his insights into the current status of the Coronavirus Business Interruption Loan Scheme:
Future Fund Support
Government loans to innovative UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors. Director, Craig Blackmore, summarises what we know about the scheme:
Economic Resilience Grant Fund
The fund is £400m in total and consists of £100 million available for small (micro) businesses and £300 million for SME's and large businesses. Associate Director, Mike Fenwick, outlines the key eligibility criteria for businesses:
Bounce back loans for small businesses
Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders. The Verde team highlights what we know so far and how it is able to help small businesses that have been affected by the coronavirus pandemic:
On-going Government support has already been signalled and the ambition of Rishi Sunak and the Government to minimise any uplift in unemployment and to continue to keep businesses afloat has been clear throughout recent weeks and months. Initiatives like CBILs, Bounce Back Loans and the Future Fund are all evidence of that.
In this difficult time, the success of a loan application can be greatly increased if applicants are assisted by professional advisers. Verde Corporate Finance have a high success rate when helping management teams apply for support, which is due to our experience and understanding of what the funder requires and ensuring the documentation and business case is delivered to the standard required.
If you would like to speak to the Verde team about any of the grant, loan or re-financing options available to businesses during the pandemic, please get in touch: on 029 2240 3445 or email email@example.com
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Are you looking for Legal advice?
Verde Corporate Finance is part of the GS-Verde Group and sister company to the multi-award-winning corporate law firm, Greenaway Scott.
Greenaway Scott provide clients with legal support in the areas of Corporate Law, Commercial Contracts, Intellectual Property, Employment and Commercial Property. Should you need legal advice on preparing your business for life after lockdown, the Coronavirus Job Retention Scheme (Furlough) or selling and buying a business during in this time, then please get in touch with the team at Greenaway Scott: email firstname.lastname@example.org or call 02920 095 500.