COVID SUPPORT SCHEMES – 31st March deadlines

The Local Restrictions Support Grant Schemes will close on 31st March.  These are for businesses that have either had to close, or which have remained open but impacted by COVID restrictions. Contact your Local Authority for details about how to claim.

The popular Bounce Back Loan scheme closes on 31st March for businesses affected by COVID.   The loan is up to 25% of turnover up to a maximum of £50,000. The government guarantees 100% of the loan with no fees or interest to pay for the first 12 months.  After 12 months, the interest rate is 2.5% a year.  Bounce Back loans are being replaced with a new Covid Recovery Loan scheme but this is only 80% guaranteed by the Government, so may be harder to obtain.

There will be a fourth round of the Self Employment Income Support Scheme with applications opening in late April until 31 May 2021.

Click here for details of all the COVID business support available.