Businesses all over the globe are bearing the brunt of the collapse of economic activity as we all grapple with the impact of the coronavirus pandemic. You might be one of the many businesses who have temporarily closed because of the coronavirus lockdown. Or you might be soldiering on with substantially lower turnover.
Like us, you’ll be keeping track of the the various measures that the UK government is introducing to support businesses like you (and sole traders) who are now facing uncertainty around what comes next. We welcome the Chancellor’s latest announcement on 24 September 2020 that he would extend lending to companies through the three coronavirus business interruption loan schemes and the Future Fund until the end of November 2020.
This means that you can still apply for the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the Bounce Back Loan Scheme (BBLS) and the Future Fund. Mr Sunak has also promised a new successor loan scheme that will begin from January 2021.
You might be wondering how you can take advantage of the various cash grants, business rates holidays and other HMRC initiatives. Or you might have questions about the new job support scheme announced that will take over from the “furlough scheme” at the end of October.
Helping you navigate the funding landscape to match you with funding and savings is what Swoop does every day. Thankfully this puts us in the best position possible to help you at this difficult time.
We’ll keep this page updated at all times to ensure you have access to all the information and insights you need, without drowning you in jargon and detail.
We’ve split our COVID-19 guidance into three main sections below.
The most important thing you can do now is to register for your free account with us. But we’re human too, and we’re here to speak to our customers – both existing and new – and provide straight-talking information and options.
We work with world class partners to help us support businesses with finance