Department for Business, Energy & Industrial Strategy (BEIS): Government against COVID-19 Funding Support
Entity: Department for Business, Energy & Industrial Strategy (BEIS)
Category: Funding support
Description: Building an economy that works for everyone, so that there are great places in every part of the UK for people to work and for businesses to invest, innovate and grow.
1. Programme Title: BBB's Future Fund
Summary: BBB works with the Department for Business, Energy & Industrial Strategy.
2. Programme Title: Coronavirus Small Business Grant Fund (SBGF)
Summary: Small Business Grant Fund (SBGF) supports small and rural businesses in England with their business costs during coronavirus. Small businesses in England which pay little or no business rates are entitled to a one-off cash grant of £10,000 from their local council.
3. Programme Title: Coronavirus Retail, Hospitality and Leisure Grant Fund
Summary: The Retail, Hospitality and Leisure Grant Fund (RHLGF) supports businesses in the retail, hospitality and leisure sectors with their business costs during coronavirus. Businesses in England in the retail, hospitality and leisure sectors are entitled to a one-off cash grant of up to £25,000 from their local council.
4. Project: Bounce Back Loan Scheme (BBLS)
Summary: Enables smaller businesses to access finance more quickly during the coronavirus outbreak. 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.
5. Programme Title: Coronavirus Large Business Interruption Loan Scheme
Summary: The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides financial support to larger businesses affected by coronavirus (COVID-19). The scheme helps medium and large sized businesses to access loans and other kinds of finance up to £50 million. The government guarantees 80% of the finance to the lender.
6. Programme Title: COVID-19 Corporate Financing Facility (CCFF)
Summary: This scheme helps large businesses affected by coronavirus (COVID-19) through the purchase of their short-term debt. Under the COVID-19 Corporate Financing Facility (CCFF), the Bank of England will buy short-term debt from large companies. This scheme will support your company if it’s been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.
The scheme is delivered through commercial lenders, backed by the Bank of England. It will operate for at least 12 months, and for as long as steps are needed to relieve cash flow pressures on firms that make a material contribution to the UK economy.
