Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme (CBILS) helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million.
Kickstart Scheme grant: 30 or more job placements
The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding which covers:
Employers can spread the start date of the job placements up until the end of December 2021.
A Kickstart Scheme application must be for a minimum of 30 job placements. If a single employer cannot provide this many job placements, they can find a Kickstart gateway, such as a local authority, charity or trade body for help applying.
Further funding is available to provide support so that young people on the scheme can get a job in the future.
Apply online: https://www.apply-kickstart-grant-employer.service.gov.uk/
For further information on the Kickstart Scheme grant: 30 or more job placements visit: https://www.gov.uk/guidance/apply-for-a-kickstart-scheme-grant-30-or-more-job-placements
Kickstart Scheme grant: 29 or less job placements
The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding which covers:
Employers can spread the start date of the job placements up until the end of December 2021.
A Kickstart Scheme application must be for a minimum of 30 job placements. If a single employer cannot provide this many job placements, they can find a Kickstart gateway, such as a local authority, charity or trade body for help applying.
Further funding is available to provide support so that young people on the scheme can get a job in the future.
As an employer with 29 or less job placements you need to find a Kickstart gateway, such as a local authority, charity or trade body.
For further information on the Kickstart Scheme grant: 29 or less job placements visit: https://www.gov.uk/guidance/apply-for-a-kickstart-scheme-grant-29-or-less-job-placements
Coronavirus Bounce Back Loans
The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.
The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.
The scheme is open to applications until 31 March 2021.
If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 March 2021.
For further information on Bounce Back Loans visit: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
Coronavirus Future Fund
The Future Fund provides government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.
These convertible loans may be an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit.
The scheme is open for applications until 31 January 2021.
For further information on the Future Fund and to apply, visit: https://www.uk-futurefund.co.uk/s/
Coronavirus Additional Restrictions Grant
The Additional Restrictions Grant (ARG) provides local councils with grant funding to support closed businesses that do not directly pay business rates as well as businesses that do not have to close but which are impacted. In addition, larger grants can be given than those made through LRSG (Closed).
Local councils can determine which businesses to target and determine the amount of funding from the ARG.
Visit your local council’s website to find out how to apply, find out the website for your local council here: https://www.gov.uk/find-local-council
For further information on the Coronavirus Additional Restrictions Grant, visit: https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-additional-restrictions-grant
Coronavirus (COVID?19) support is available to employers and the self-employed, including sole traders and limited company directors. You may be eligible for loans, tax relief and cash grants, whether your business is open or closed.
Use the business support finder to see what support is available for you and your business: https://www.gov.uk/business-coronavirus-support-finder
