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Support for businesses - where to find it

There is a vast amount of information available on numerous websites to help you and your business get through these difficult times. The maze of business funding options might seem impenetrable, but LRSN is here to help.

LRSN's caseworker, Lea Schofield has distilled the plethora of information for us into an easy-to-access guide on how to get finance for your business and not get lost in the process.

Lea says: "There are two good websites where you can find all the information you need, www.moneysavingexpert.comandwww.gov.uk.

"MoneySavingExpert has a straightforward layout and gives a good amount of detail without swamping you. Martin Lewisprovides a good breakdown of the application processes and qualifying criteria even down to the purpose the bounce-back loans can be used for. The government advice pages have all the funding options available in one place with an eligibility calculator plus direct access to the application forms and guidance."

www.Gov.uk – gives information and application links which include: 

https://www.gov.uk/guidance/coronavirus-covid-19-what-to-do-if-youre-employed-and-cannot-work

https://www.gov.uk/guidance/coronavirus-covid-19-what-to-do-if-you-were-employed-and-have-lost-your-job

https://www.gov.uk/guidance/coronavirus-covid-19-what-to-do-if-youre-self-employed-and-getting-less-work-or-no-work

Support for small/medium-sized businesses

https://www.gov.uk/coronavirus/business-support links to the pages below for information and the application pages

  1. https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-small-business-grant-fund
  2. https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-retail-hospitality-and-leisure-grant-fund
  3. https://www.gov.uk/guidance/apply-for-the-coronavirus-business-interruption-loan-scheme
  4. https://www.gov.uk/guidance/future-fund          

The Bounce Back Loan 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. To access the scheme, click here: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan 

Support for Large Businesses

https://www.gov.uk/guidance/apply-for-the-coronavirus-large-business-interruption-loan-scheme

Don't struggle on your own. If you need help, Lea and our caseworkers can help you through the tangle of terms and conditions and our friendly and confidential advice will help you get back on track. Call our helpline, 0800 138 1710 between 8am and 8pm every day of the year and we'll be there for you.