Major funding announcement by the Government
The Government have literally; within the last hour, announced a new corona virus crisis aid scheme that will offer businesses support for those who were perhaps struggling to access the current CBILS Scheme in place.
The scheme aims to support small businesses in accessing loans of up to £50,000 and will guarantee 100% of these.
The scheme is due to be in place as of next Monday with applications allegedly being via a ‘simple form’ through your bank.
Naturally hold off contacting your bank just yet as with previous announcements the Government does not always share these initiatives any quicker with them than they do with you.
This will provide another option out there for businesses that are in desperate need of financial support and who have exhausted other channels.
Hopefully it will also be accessible much more quickly than the current CBILS scheme due to the additional security being provided and following the lessons learnt by the Government when the guidance given to banks previously was lacking.
What is planned for May?
Whilst we must get back on track ourselves as firm in May, our ‘Strike-Back’ strategy continues and we have an exciting line-up of speakers planned for clients that will further help you reinforce and re-engineer your business so that you come back with a bang as you are most likely sick of us by now!