Business Support Update 15 April 2020 15 April 2020 0 3216 Business Support Update Covid-19 Support for local businesses We have awarded £11.56 million in grants to 1,033 businesses in Carlisle. We continue to process government grants available for businesses affected by the Coronavirus outbreak with payments being made on a daily basis. We have written to all eligible businesses within the Carlisle area and are urging businesses to contact us with the necessary information to allow us to process the remaining grants. Within the letter they are asked to confirm some company details and send back the information electronically. We need this information to process the payment and to ensure that the funding goes to the right place. We want all eligible businesses to get access to the grants; we don’t want any business to miss out. Once the information has been received, an email is sent to the business acknowledging that the information has been received. It is not necessary for them to make any further contact. If any additional information is needed or there are any queries, we will contact the business direct. Once the necessary information has been received, we aim to process the grants within five working days. The grants have been provided to those businesses eligible for the government’s small business grant fund or the retail, leisure and hospitality grant. The level of grant is dependent on the rateable value of the business. We have followed government guidance regarding the business grants and to ensure that all eligible businesses access the grants as quickly as possible, we have targeted our approach rather than asking businesses to apply. The government has made it clear that this is not an application process and that councils should be proactively contacting businesses that could access the funding. Any business that has any concerns or has not received a letter, and thinks they are eligible, is asked to contact us by calling 01228 817234 or emailing [email protected] In addition to the grants, we have also sent nil balance bills to businesses that are eligible for business rate relief under the expanded business rates relief scheme. We are also promoting other grant and funding opportunities on our website - www.carlisle.gov.uk We are also searching out other funding opportunities which we are also promoting to partners. Our website provides up-to-date information on the government funding and is regularly updated when new schemes or guidance is provided. We are working closely with Cumbria Local Enterprise Partnership, Cumbria Chamber of Commerce, Cumbria Tourism and Carlisle Ambassadors to support local businesses.
COVID-19: Strengthened support for business 03 April 2020 03 April 2020 0 3238 COVID-19: Strengthened support for business CBILS / CLBILS The Government has taken further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies. Extended Coronavirus Business Interruption Loan Scheme (CBILS) The Government has extended the CBILS so that all viable small businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time. The government is also stopping lenders from requesting personal guarantees for loans under £250,000 and making operational changes to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees. Please find further details here: https://bit.ly/UpdatedCBILS New Coronavirus Large Business Interruption Loan Scheme (CLBILS) The new CLBILS will ensure that more firms are able to benefit from government-backed support during this difficult time. It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced later this month. Please find initial details here: https://bit.ly/NewCLBIL