COVID-19 Financial Help

An overview of all the available funding and financial help for businesses during the Coronavirus Pandemic.

Business Support Grants

NI Business Info on Red BackgroundTwo grants were announced to help businesses affected by the Coronavirus

1. A grant of £10,000 is to be made available to small businesses who are eligible for the Small Business Rate Relief Scheme. There is no application for the Small Business Rates Relief scheme, Land Property Services automatically apply it to qualifying businesses. Businesses who qualify will be eligible for the grant.

Eligible businesses who pay reduced rates as part of the Small Business Rates Relief Scheme will recieve the £10,000. For businesses who pay their rates via Direct Debit, the £10,000 will be automatically paid into this account. Businesses who do not pay by direct debit but who are part of the Small Business Rate Relief Scheme need to fill in a registration form.

Access the registration form

Following Reval2020, a new non-domestic valuation list will come into affect on 1 April 2020. This means that more businesses may qualify for the Small Business Rate Relief Scheme. If you are on this list, you need to complete the form (linked above) to provide your bank details. If a business who qualified for rate relief until 31 March 2020 is not on the new list, they will still be able to avail of the £10,000 grant.

2. A grant of £25,000 will be available for businesses in the hospitality, tourism and retail sectors, with a rateable value from £15,000 up to £51,000. 

Find out more information

 

Questions about the scheme? Contact Land Property Services helpline on 0300 200 7809 or rating@lpsni.gov.uk

Coronavirus Business Interruption Loan Scheme

British Bank written on white backgroundThe Coronavirus Business Interruption Loan Scheme is a new scheme that can provide up to £5million for smaller businesses across the UK. 

Businesses are eligible for the loan scheme if:

  • they are UK based
  • their annual turnover is no more than £45 million
  • Have a borrowing proposal which the lender:

They must also have a borrowing proposal which the lender:

a) would consider viable, were it not for the COVID-19 pandemic

b) believes will enable you to trade out of any short-term to medium-term difficulty

Businesses from any sector can apply, except the following:

  • Banks and building societies
  • Insurers and reinsurers (but not insurance brokers)
  • Public-sector organisations, including state-funded primary and secondary schools

Businesses can apply directly through a lender's website. Danske Bank, Ulster Bank and Bank of Ireland have confirmed they have secured accreditation for the scheme.

Find out more information

HSBC Fund for Internationally Trading Businesses

HSBC LogoBusinesses across the UK are facing supply chain disruption, with delays in receiving both goods and payments, leaving many with a gap in their working capital cycle.

To cover this short-term gap, HSBC are offering:

  • £3bn lending to importers and exporters that need additional support*
  • Pre-approved 60-day extensions on trade loans for customers with a sound trade loan/financing record**
  • Fast turnaround on the issuance of Shipping Guarantees, enabling customers to transfer or receive goods from their counter-party faster

Call the dedicated helpline on 0800 783 1300 or click here to find out more

Corporate Financing Facility for Large Businesses

Under the COVID-19 Corporate Financing Facility (CCEF), the Bank of England will buy short-term debt from large companies.

This scheme will support your company if it’s been affected by a short-term funding squeeze, and allow you to finance your short-term liabilities.

Check your eligibility

Find out how to apply

Self-Employment Income Support Scheme

HMRC logoThe Self Employment Income Support Scheme will provide self-employed individuals or members of partnerships with a taxable grant worth 80% of their profits, up to a cap of £2,500, for the next three months. 

Self-employed individuals need to have filed a 2018/19 tax return and be trading in 2019/20. 

Find out more about the scheme

Charities Aid Foundation Coronavirus Emergency Fund

CAF LogoThe Charities Aid Foundation has launched a rapid response fund to help small charitable organisations affected by COVID-19. The funding aims to help them continue to deliver needed support.

Grants of up to £10,000 are available. Applications are open to charitable organisations across the UK. Applicant organisations must have an income of £1 million or less. 

Find out more information