Coronavirus Business Interruption Loan Scheme
Updated: Mar 23, 2020
A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch next week to support primarily small and medium sized businesses to access bank lending and overdrafts. The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value. Businesses can access the first 6 months of that finance interest free, as government will cover the first 6 months of interest payments. Further details, including on the lenders providing access to this scheme is now available here.
If you're business is in limbo at the moment, feel free to touch base with us here at Degu Media. We work with our clients to not only handle their social media, marketing and public relations but also helping them navigate through this difficult time by looking to introduce new menus, new services and reach new clients. Our aim is two-fold, help you get through the coming weeks and also put you in a winning position by the time the hospitality industry is ready to relaunch.
Take a look at our pedigree here and feel free to get in touch. We are launching a 25% off of our weekly fee and also giving new customers access to new complimentary services.
Weekly Hospitality Package £200 per week, now £150.
- Free ongoing professional photography
- Free brand management cards
- Free bounce-back vouchers
We have also cut our initial set up fee from £250 to £150 for all new customers.
Call us on 01316775644 (Edinburgh) or 02920026562 (Cardiff), currently not taking on clients outside these areas due to travel recommendations. You can also enquire online using the links above.