There’s been lots of talk about what’s available for business owners over the past week – YES, it’s only been a week since the govt launched their relief packages to help the economy – seems like a lifetime ago.

While our accountants and financiers get their heads around what’s available and how to access it, business owners are left wondering the same thing: When is it available? How do I apply? Am I eligible?

The full details can be found on the govt website using the following link:
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

For now, let’s get down to business and focus on the: Small Business Grant and the Coronavirus Business Interruption Loan scheme.

  • Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief.
    Eligibility: Your business is eligible for this grant if you have a property on which you pay rates.
    How to Apply: You don’t need to do anything yet. Your local council will get in touch directly with you and arrange the payment of funds. If you are eligible, you will receive the full £10,000.
    When will it be available? The govt has said early April while they work out the logistics of disseminating information and funds. We will be posting updates regularly on our FB and blogs but look out for announcements on the govt website and your local council website.
  • Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
    Eligibility: If you operate in the retail, hospitality, and/or leisure sector.
    For businesses with a rateable value of under £15,000 will get £10,000.
    For businesses with a rateable value of between £15,001 and £51,000 will get £25,000.
    How to apply: You don’t need to do anything yet. Your local council will get in touch directly with you and arrange the payment of funds.
    When will it be available? The govt has said early April while they work out the logistics of disseminating information and funds. We will be posting updates regularly on our FB and blogs but look out for announcements on the govt website and your local council website.
  • The Coronavirus Business Interruption Loan Scheme is offering loans of up to £5 million for SMEs through the British Business Bank. They provide access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.
    Eligibility: Your business is UK based with a turnover of no more than £45 million per year.
    Also, your business will need to meet the other British Business Bank eligibility criteria.
    How to apply: You can apply now directly with your bank or an accredited lender listed on the British Bank Website. We can help advise you and decide which lenders you should be approaching

A More Personal Approach.

Eligible or not, your grant may not come quick enough if you need help now. The loan scheme may also be inundated with applications and queries which can be a minefield right now and you simply cannot wait.

Talking to an ethical, professional finance broker will cost you nothing. At SME funding UK Ltd, we help our customers explore all their borrowing options and find the right solution for you, right now. You could have the money in your account in just a few days or a cash allowance ready to access quicker than waiting in line at the bank.

Talk to us today for fast, impartial advice which you can trust. But don’t take our word for it:

“SME funding has been instrumental in helping us source the right financing for our unique situation. We are so thankful to have been introduced to Henry; We could not be happier with his fast service, ethical manner and his sound advice. In fact, we are so happy with Henry we have tagged him on our phone contacts as ‘speedy money.” Lisa Woodcock, Mulini Displays.

SME funding UK Ltd is owned and managed by ethical broker Henry Audley-Charles. Henry specialises in advising and guiding SMEs to find the right solution for their business fast. He has over 30 years of knowledge and experience in the industry and boasts a broad network of funding sources.

Contact us today

Let us reduce the risk and save you time and money sourcing funding for your business!
SME funding UK Ltd is authorised and regulated by the Financial Conduct Authority (772970) and we are a Member of the National Association of Finance Brokers (M/0122/16)

We are also registered with the Information Commissioner’s Office (ZA209808)

Please note SME funding UK Ltd are brokers and not funders themselves.