Have you accessed all the Covid 19 financial support schemes that are available?

 We have helped a number of our clients in accessing grant support and loans under various

Government-backed schemes, since the beginning of the Covid-19 pandemic. In order to
bring some clarity to the help that is available, we have listed the most relevant schemes for
our SME clients.
Some of these will be more familiar than others and it is likely that eligible businesses will be aware of the Retail, Hospitality & Leisure Grant and the Small Business Grant. Indeed, most eligible businesses should have received their funding by now. We have included these, as they are still available.

Grants

Retail, Hospitality and Leisure Grant Fund

Eligibility Criteria

- Business is based in England (there are separate schemes for Scotland, Wales & Northern Ireland).

- Business is in the retail, hospitality or leisure sector.

- The Business premises must have a rateable of less than £51,000.

Amount 

- £25,000 if the rateable value is between £15,001 and £50,999.

- £10,000 if the rateable value is £15,000 or below.

Businesses covered

- Shops.
- Restaurants, cafes, bars and pubs.
- Cinemas and live music venues.
- Estate agents/letting agents.
- Assembly/leisure property e.g. hotel, guest house, camping and caravan sites, self-catering
accommodation.

Restrictions

- Properties occupied for personal use are not covered e.g. private stables, moorings, beach
huts.
- Car parks and parking spaces are not covered.

- Eligible businesses can only claim one grant per property.
- If in receipt of State Aid, you need to declare that you were not an undertaking in difficulty
- on 31 December 2019, nor that you will exceed the state aid temporary threshold of
800,000 Euros. 

How to apply/what to do next

- Your local council will contact you directly.
- Contact your council If you think that you’re eligible but they have not been in
touch.

https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-retail-hospitality-and-leisure-grant-fund

https://www.herefordshire.gov.uk/info/200145/business/540/business_advice_and_support/9

 

Coronavirus Small Business Grant Fund

Eligibility Criteria

- Business is based in England (separate schemes are available in other parts of the UK).
The business occupies property.
- The business was eligible for Small Business Rate Relief or Rural Rate Relief on 11 March
2020.

Amount

 - £10,000

Restrictions
Properties occupied for personal use are not covered e.g. private stables, moorings, beach
huts.
Car parks and parking spaces are not covered.                                                                                                               - Eligible businesses can only claim one grant per property.
- The grant counts towards the total de minimis state aid you’re allowed to receive over a 3-
year period. You will need to confirm that you will not exceed the de minims threshold of
200,000 Euros. If the threshold is exceeded you may still be eligible under the Covid-19
Temporary Framework. You will need to declare that you will not exceed the temporary
framework threshold of 800,000 Euros nor were an undertaking in difficulty on 31
December 2019.

How to apply/what to do next

- Your local council will contact you directly.
- Contact your council If you think that you’re eligible but they have not been in
touch.

https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-small-business-grant-fund
https://www.herefordshire.gov.uk/info/200145/business/540/business_advice_and_support/9

 

Local Authority Discretionary Fund

Eligibility Criteria – These are discretionary grants, but they are predominantly aimed at:

- Small businesses (Turnover up to £10.2 million, Balance Sheet total up to £5.1 million, less
than 50 employees).
- Micro businesses (Turnover up to £632,000, Balance Sheet total up to £316,000 and no more
than 10 employees).
- Businesses with relatively high ongoing fixed property related costs.
- Businesses that have suffered a significant fall in income due to Covid-19.
-Businesses which occupy property with a rateable value, annual rent or mortgage
repayments of less than £51,000 per annum.
- Small businesses in shared offices or flexible workspaces.
- Regular market traders with fixed building costs, who don’t have their own business rates
assessment.
- Bed & Breakfasts which pay Council Tax, not business rates.
- Charity properties in receipt of charitable business rates relief that would otherwise have
been eligible for Small Business Rates Relief or Rural Rates Relief.

Amount

- £25,000, £10,000 or any amount up to £10,000.

Restrictions

- Businesses that have already received cash grants from any central government Covid
related schemes including the Self Employment Income Support Scheme, Small Business
Grant Fund and Retail, Hospitality & Leisure Grant will not be eligible.

How to apply/what to do next

- Herefordshire Council’s website currently advises that guidance with regard to this grant will
be published shortly.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file
/885011/local-authority-discretionary-grants-fund-guidance-local-government.pdf
https://www.herefordshire.gov.uk/info/200145/business/540/business_advice_and_support/9

 

Travel Fund Grant 2020

Eligibility Criteria

- Open to all registered businesses and organisations that in Herefordshire with paid
employees.
- The priority for the scheme this year is to support access to work, through home working
equipment, including laptops with built in cameras, headsets with built in microphones,
webcams with microphone and speakers/headset and software licences for video
conferencing for 12 months.
- Funding is also available for Cargo Bikes.

Amount

- 100% of the costs of new equipment and/or licences, up to a maximum of £2,000.

Restrictions

- Funding is available for equipment/licences for businesses within Herefordshire, or for use
by employees whose usual work base is within Herefordshire.
- Only one grant scheme through Herefordshire Council can be used for home-working and
video-conferencing equipment during this year.
How to apply/what to do next
- Via the Herefordshire Council’s website – see below for the link.

https://www.herefordshire.gov.uk/travelfundgrant

Returning to Work Manufacturing Grant

Eligibility Criteria

- Available to manufacturing businesses only.
- The project will be assisting with returning to work for e.g. completing risk assessments,
social distancing measures, improving layouts, project management and operational best
practices.

Amount

- 33% of the cost of the project, subject to a maximum of £2,000.

Restrictions

- The Manufacturing Growth Programme will assess eligibility.

How to apply/what to do next

- Contact Catherine Bray on 07790 358610 or Catherine.bray@egs.live.
https://www.manufacturinggrowthprogramme.co.uk/

 

Salesforce and Enterprise Nation Grant

Eligibility Criteria

- The business must be UK based, registered at Companies House and with a UK bank
account.
- The business must have been established at 18 May 2019.
- The business must have a website or other online/digital presence.
- The business must have at least 2 employees, but no more than 50, and had at least 2
employees as at 31 December 2019.
- The business must not have received any Government cash grant of more than £1,000 in
relation to COVID-19, during 2020.

Amount

- Up to £5,000.

Restrictions

- For Midlands businesses, the application period is between 1st and 7th June inclusive and is limited to 110 awards.
- Not available for a franchise or a subsidiary of another company.
- Applicants with criminal or county court judgements are not eligible.

How to apply/what to do next

- Via the website – details below
https://www.enterprisenation.com/find-something/salesforce-small-business-grants/

 

Loans

Bounce Back Loan (BBL)

Eligibility Criteria

- The business must be based in the UK.
- The business must have been established before 1 March 2020.
- The business must be adversely impacted by coronavirus.

Amount

- Between £2,000 and 25% of the business’ turnover, subject to a maximum of £50,000.
Features of the Loan
- The Government guarantees 100% of the loan.
- There are no fees or interest payable in the first 12 months.
- After 12 months interest is charged at 2.5% per annum.
- The term of the loan is 6 years.
- Early repayments, without penalty, can be made.
- Eligibility is self-declared.

Restrictions

- Banks, insurers and reinsurers, public sector bodies and state funded schools are ineligible.
- If you have funding under CBILs (see later) you cannot apply, unless the Bounce Back Loan
will repay the CBIL in full.

How to apply/what to do next

- The scheme is administered by The British Business Bank and a list of accredited lenders is on their website.
- Details of the scheme and the application process will be on the lender’s website.
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/

Coronavirus Business Interruption Loan Scheme (CBILS)

Eligibility Criteria

- The business must be based in the UK.
- Annual turnover of up to £45 million.
- The business must be adversely impacted by coronavirus, be able to demonstrate that it
would be viable if it were not for the pandemic and wasn’t classed as a business in difficulty
on 31 December 2019.

Amount

-£50,001 - £5 million through term loans, overdrafts, invoice finance and asset finance.
Features of the Term Loan
- The Government guarantees 80% of the loan.
- No personal guarantee will not be taken in respect of facilities below £250,000.
- Debentures may be required, particularly when facilities exceed £100,000.
- There are no fees or interest payable in the first 12 months.
- The interest rate is negotiated with the lender.
- The term of the loan is up to 6 years.
- Early repayments, without penalty, can be made.

Restrictions

- Banks, insurers and reinsurers, public sector bodies and state funded schools are ineligible.
- If you have funding under the Bounce Back Loan, the CBIL must repay the Bounce Back Loan.
Information the Lender may Require
- Business Plan
- 3 years Annual Accounts
- Up to date Management Accounts
- Cash Flow Forecast
- Details of assets
- Details of other lending commitments

How to apply/what to do next

- The scheme is administered by The British Business Bank and a list of accredited lenders is on their website.
- Your first port of call should be your existing Bank, details of the scheme and the application process will be on their website. If you have a Relationship Manager, speak with them.
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/

 

Coronavirus Future Fund

Eligibility Criteria

- The business must be based in the UK and if a part of a corporate group, only the parent
company is eligible.
- The business must have raised £250,000 in equity investment from third party investors in the last 5 years.
- None of the business’ shares are traded on a regulated market, multilateral trading facility or other listing venue.
- The business must have been incorporated prior to 1 st January 2020.
- Either at least half of the revenues are from UK sales or more than half of the employees are UK based.
- Specific criteria for investors need to be met.

Amount

- Between £125,000 and £5 million, but must be at least equally match funded from private
investors.

Features of the Loan

- The scheme is delivered by The British Business Bank.
- The application is investor led, in connection with the company.
- The interest rate will be a minimum of 8% per annum.
- The loan term is 3 years.
- The loan can be repaid early, but needs the agreement of all investors.

How to apply/what to do next

- The investor creates an account with The British Business Bank, via their website.
- The investor provides information regarding the investment and confirms their eligibility.
- The application is then submitted.
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/future-fund/