Helping SMEs affected by COVID19
The ongoing COVID-19 pandemic 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 the 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 coronavirus outbreak including Revive and Thrive loans.
Safeguarding clients, referrers and our staff
As of 6 April 2021, all BEF staff are working remotely until further notice. We continue to support businesses through the coronavirus outbreak using IT 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 in the most appropriate way.
Recovery Loan Scheme (RLS)
Launched on 6 April 2021, the Recovery Loan Scheme (RLS) provides financial support to businesses across the UK as they recover and grow following the coronavirus pandemic. BEF are not an accredited lender under RLS which will run until 31 December 2021, subject to review.
A lender can provide up to £10 million as one of the following facilities:
For more information on the scheme please visit the British Business Bank website.
Revive and Thrive Loans
Available exclusively from BEF, the Revive loan provides up to £50,000 unsecured while the Thrive loan provides up to £250,000 secured. Apply now.
Start Up Loans
We continue to welcome new applications from start ups. We will work with new applicants to ensure they receive the best possible support during the coronavirus outbreak. Apply now.
The Restart Grant Scheme
The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants are available from 1 April 2021.
Eligible businesses in the non-essential retail sector may be entitled to a one-off cash grant of up to £6,000 from their local council. Eligible businesses in the hospitality, accommodation, leisure, personal care and gym sectors may be entitled to a one-off cash grant of up to £18,000 from their local council.
Your business may be eligible if it is:
For more information please contact your local council.
Additional Financial Support for Businesses
For further information on additional financial support, please visit the Government's COVID-19 Support for Businesses Guidance page.
Further Guidance for Employees, Employers and Business
Further coronavirus guidance for employees, employers and business is available on the Government's website.
General information
A comprehensive and detailed overview of the current restrictions and available support is available on the West & North Yorkshire Chamber website.
