Menu

COVID-19 financial assistance for businesses and communities

Financial assistance available to businesses and communities during the COVID-19 pandemic

Read more +

Support from the Scottish Government

The Find Business Support website is being updated daily with information on funding and guidance from Government so please remember to check it regularly and sign-up for the email bulletins.  

Funds available: 

Closed funds

The following funds have now closed. You can still visit the websites listed to check the status of applications or to find out where funding has been awarded. 

See below for additional support available, including that from the UK Government.  

UK Government support

  • Updated 10 July: Important changes to the Coronavirus Job Retention (furlough) Scheme You can now submit claims for periods starting on or after 1 July. 31 July is the last day that you can submit claims for periods ending on or before 30 June. The Job Retention Bonus was announced on 8 July. More information can be found in the government’s Plan for Jobs.
  • 09 July: Get support through the Recovery Advice for Business scheme  Thousands of expert professional and business services advisers have signed up to offer free online advice to help small businesses bounce back from COVID-19. 
  • Updated 09 July: VAT - reduced rate for hospitality, holiday accommodation and attractions - if you’re a VAT registered business, check if you can temporarily reduce the rate of VAT on supplies relating to hospitality, accommodation, or admission to certain attractions.
  • Updated 30 June: Apply for the coronavirus Futures Fund This scheme issues convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to COVID-19. Changes to the scheme’s eligibility criteria will mean that UK companies who have participated in highly selective accelerator programmes and were required, as part of that programme, to have parent companies outside of the UK will now be able to apply for investment.
  • Published 27 June: The UK government has announced 2 significant new support packages that will help protect the science jobs that will be essential for future prosperity, and ensure that critical research projects can continue.
  • Published 27 June: UK Government unveils £200 million package to help innovative businesses bounce back. It includes the Sustainable Innovation Fund that will help companies recovering from the impact of COVID-19 keep their cutting-edge projects and ideas alive.
  • Updated 04 May: Bounce Back Loan Scheme Small businesses are able to apply for quick and easy-to-access loans from 4 May and will be able to borrow between £2,000 and £50,000 with the cash arriving within days. Loans will be 100% government backed for lenders, and businesses can apply online through a short and simple form.
  • Business support tool The UK Government has launched a new tool to help businesses more easily find what financial support is available to them through the COVID-19 pandemic. 
  • The Future Fund This Fund will provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors. 

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

 

Financial support for communities and the third sector

Find out what's available in our communities and third sector funding pages. 

Third sector and community funds

Keep up to date

Use the Find Business Support portal to keep up to date with all of the financial packages and support available for both businesses and third sector organisations.

www.findbusinesssupport.gov.scot/coronavirus-advice

Coronavirus Third Sector Information Hub

The SCVO website is also regularly updated with official information for charities, community groups, social enterprises and voluntary organisations.

www.scvo.org.uk/support/coronavirus
Find Support Graphic5