Additional financial support for businesses and communities
As organisations respond to the financial and economic crisis brought about by the COVID-19 pandemic, a number of additional support packages have been created to help those in need. Find out what's available below.
The Prince’s Trust and NatWest launch £5million grant fund for young entrepreneurs
The Prince’s Trust and NatWest Enterprise Relief Fund is available to entrepreneurs aged 18-30, who can apply for grants and tailored support.
Grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers. In conjunction with these grants, the initiative will also offer one-to-one support and guidance to applicants who need it.
Find out more and apply here
The Coronavirus Business Interruption Loan Scheme (CBILS)
CBILS is a new scheme that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance. The scheme provides the lender with a government-backed guarantee potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’. The borrower always remains 100% liable for the debt.
Find out more