Urgent Telephone 4pm - 8.30am : 01233 331111

Coronavirus Advice For Businesses

Growth Hub banner reading: "Business Recovery Helpline - Advice and support when you need it the most. Call 03333 602300 - phone lines open 08:30-17:00 Monday to Friday

Business Support Newsletter

Advice and Resources

Financial Support Information

Measure

Description

Mechanism

Update (13.5.2022)

Recovery Loan Scheme

The Recovery Loan Scheme provides continued access to finance, providing support to recover and grow. Once received, the finance can be used for any legitimate business purpose.

Term loans and overdrafts are available between £25,001 and £10 million per business. Invoice finance and asset finance is available between £1,000 and £10 million per business.

Read more on the gov.uk website

Extended until 30 June 2022.

For offers made after 1 January 2022 there will be changes including the eligibility criteria and the maximum amount of finance available.

Future Fund: Breakthrough

This programme makes equity co-investments with private sector investors in growth stage R&D-intensive British companies operating in breakthrough technology sectors. The minimum total investment round size is £30m. The maximum Future Fund: Breakthrough share of an investment round is 30%.

Read more about the Future Fund: Breakthrough

No update

Grants for Social Enterprise

There are several regional and national schemes operating, for example by the National Lottery Community Fund and the Kent Community Foundation.

No update

No update

Bank Support

Other private banks are making funds available to small businesses impacted by COVID-19

Contact your banking provider

No update

Time to Pay - Extra time for tax

Individuals in financial distress and with outstanding tax liabilities will be able to access support to agree a bespoke 'time to pay' arrangement.

Apply to HMRC through their helpline on 0800 0159 559 or visit the government website

No update

Universal Credit and Employment and Support Allowance

If you’re getting less work or no work because of coronavirus (COVID-19), you can apply online for Universal Credit.

Alternatively, if you’re unable to claim Statutory Sick Pay and are self-isolating because of Coronavirus (or have other health conditions), you may be able to claim Employment and Support Allowance.

 

View more information on claiming Universal Credit

 

View more information on claiming ESA

No update