{"id":1600,"date":"2020-11-27T12:51:00","date_gmt":"2020-11-27T12:51:00","guid":{"rendered":"https:\/\/crowdforangels.com\/blog\/?p=1600"},"modified":"2021-07-02T14:39:50","modified_gmt":"2021-07-02T13:39:50","slug":"funding-support-for-businesses-impacted-by-covid-19-how-crowd-for-angels-can-help","status":"publish","type":"post","link":"https:\/\/crowdforangels.com\/blog\/funding-support-for-businesses-impacted-by-covid-19-how-crowd-for-angels-can-help\/","title":{"rendered":"Funding for businesses impacted by COVID-19"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Since the COVID-19 outbreak, business is far from \u201crunning as usual\u201d, which is why we are writing this blog with the aim of summarising the raft of measures that have been announced by the government regarding financial support and to ensure you are aware of the latest schemes and extensions put in motion to help your venture.<\/p>\n\n\n\n

To begin with, the British Business Bank has launched the details of the Coronavirus Business Interruption Loan Scheme (CBILS)<\/strong> which is open for applications (extended till 31st January 2021)<\/strong> for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. <\/p>\n\n\n\n

You\nare eligible for the scheme if:<\/p>\n\n\n\n

–\nYour business is UK based, with turnover of no more than \u00a345 million per year.<\/p>\n\n\n\n

–\nHave a borrowing proposal which, were it not for the COVID-19 pandemic, would\nbe considered viable by the lender, and for which the lender believes the\nprovision of finance will enable your business to trade out of any\nshort-to-medium term difficulty.<\/p>\n\n\n\n

–\nSmaller businesses from any sector can apply for the full amount of the\nfacility\/<\/p>\n\n\n\n

 You can review the British Business Bank\u2019s brief eligibility checklist here <\/a>and find out more details on how to apply here<\/a><\/p>\n\n\n\n

The British Business Bank has also announced the list of current accredited lenders & partners as of 27th November 2020, accessible here<\/a>. Note that not every accredited lender can provide every type of finance listed, so use the filter buttons to find the lender right for you.<\/p>\n\n\n\n

Since this article was initially published (i.e. March 2020) the government has announced a range of schemes such as the Future Fund<\/a> (available till 31st January 2021), Bounce Bank Loan Scheme (BBLS)<\/a> (available till 31st January 2021). To check the latest updates on the various financial support for businesses during COVID-19 view government page here<\/a>.<\/p>\n\n\n\n

Other highlights from w\/c 23rd<\/sup> March 2020 for small businesses:<\/strong><\/p>\n\n\n\n