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Open 4 Business Portal

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To support our businesses during the current COVID-19 crisis, and into the recovery phase, Carlisle City Council is providing free access to Open 4 Business. Open4Business is designed to support businesses locate relevant up to date funding opportunities.

The portal is updated regularly with new local, regional and national funding announcements and can be easily searched by businesses on the basis of their industry, region and business size. The portal then provides information on how to apply for funding and contact funders directly. To search for grants for your business you will first need to register on the Open4Business website

GO TO OPEN 4 BUSINESS

Grants and Funding News
29Apr

Apply for a coronavirus Bounce Back Loan

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A new loan scheme for smaller firms in need of financial support during the coronavirus crisis, with the Government paying the interest for the first 12 months.

Fund Information

Funding body:

Department for Business, Energy & Industrial Strategy (BEIS)

Maximum value:

£ 50,000

Application deadline:

None specified

Background

Administered by the Department for Business, Energy and Industrial Strategy (BEIS).

Objectives of Fund

The new Bounce Back Loans scheme, announced by the Chancellor, will allow small and medium businesses to borrow between £2,000 and £50,000 and access the cash within days. Loans will be interest free for the first 12 months, and businesses will be able to apply online through a short and simple form.

Firms will be able to access these loans through a network of accredited lenders. The Government will work with lenders to ensure loans delivered through the scheme are advanced as quickly as possible and agree a low standardised level of interest for the remaining period of the loan.

Rishi Sunak said the scheme will help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic. It will run alongside the Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loan Scheme (CLBILS).

The Chancellor said:

‘Our smallest businesses are the backbone of our economy and play a vital role in their communities.

‘This new rapid loan scheme will help ensure they get the finance they need quickly to help survive this crisis.

‘This is in addition to business grants, tax deferrals, and the job retention scheme, which are already helping to support hundreds of thousands of small businesses.’

Value Notes

Loans of between £2,000 and £50,00 will be available.

Who Can Apply

Small and medium businesses can apply for a loan if they:

  • Are based in the UK.

  • Have been negatively affected by coronavirus (COVID-19).

  • Were not an ‘undertaking in difficulty’ on 31 December 2019.

Further-education establishments, if they are grant-funded, can also apply.

Location

UK

Restrictions

The following businesses are not eligible to apply:

  • Banks, insurers and reinsurers (but not insurance brokers).

  • Public-sector bodies.

  • State-funded primary and secondary schools.

Employee Notes

1-249.

How To Apply

The scheme opens on 4 May 2020.

The loans will be easy to apply for through a short, standardised online application. The loan should reach businesses within days- providing immediate support to those that need it as easily as possible.

More details will follow.


Useful documents & links

Useful Links


Addresses and contacts

For further information on how to obtain this grant locally, please contact the following:

  1. Enquiries
    Department for Business, Energy & Industrial Strategy (BEIS)
    Tel: 0330 331 0020

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