Coronavirus (COVID-19) Support for Businesses

Coronavirus (COVID-19) Support

Helping SMEs through the coronavirus outbreak.

The current coronavirus (COVID-19) outbreak presents unprecedented challenges to public health and SME businesses.

We appreciate that business owners may be concerned about the impact coronavirus will have on their businesses. We share those concerns and would like to work with business owners through these unsettling circumstances.

It’s times like this when our mission to support SME businesses and the communities they serve counts the most. Supporting SME businesses is our priority. We have introduced several products and means of support to help SME businesses through the next 3 – 4 months and longer if necessary.

Safeguarding clients, referrers and our staff

Following the government's advice issued on 23 March, our offices are now closed and all BEF staff are working remotely until further notice. We are still open to help businesses through the coronavirus outbreak. We will use online technology to complete virtual appointments and issue all loan documents electronically.

As you may appreciate, our telephone line is extremely busy at present. In light of this, we kindly ask you to read the following information to help you contact us and our partners in the most appropriate way.

Coronavirus Business Interruption Loan Scheme (CBILS)

CBILS is a new scheme that enables us to provide facilities of up to £250,000 to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. For information please visit our CBILS loan page. To apply for CBILS support, please complete an online application today.

Short-Term Working Capital Loans

In addition to CBILS, we can deliver short-term working capital loans up to £250,000 to safeguard businesses and staff. To apply for a working capital support, please complete an application today.

Start Up Loans Support

We are actively supporting new applications for Start Up Loans. We will work with new applicants to ensure they receive the best possible support to help start their new business during the coronavirus outbreak. Further information is available on our Start Up Loans page.

We are unable to directly reschedule payments for existing Start Up Loans clients. Support with an existing Start Up Loan is available on a case by case basis from Street UK who have provisions in place to assist clients struggling to make loan repayments due to coronavirus. Street UK can suspend payments and interest for three months.

To take advantage of the payment/interest break, please email credit.control@street-uk.com with your loan reference number and/or your name address.

Additional Financial Support for Businesses

The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.

This includes a package of measures to support businesses including:

For further information on these measures, please visit the government's COVID-19 Support for Businesses Guidance page.

Further Guidance for Employees, Employers and Business

Further coronavirus (COVID-19) guidance for employees, employers and business is available on the Government's website.

Best wishes,

The BEF team