We're committed to helping businesses in the North get through the Coronavirus outbreak. Visit our support section for more information.

Business support - Coronavirus

As the situation with Coronavirus is developing, we want to reassure our customers that we are here to help.

We want to reassure customers that we have the technology in place that allows us to continue operating as usual during this difficult time. To ensure the safety of our staff, our teams are working from home, but we remain in contact with the businesses we support.

We are committed to supporting businesses with their funding needs, so if you are a business seeking finance please contact us. Likewise, if you are an advisor and want to know how we can assist your clients with their funding requirements, please get in touch.

If you are an existing customer and wish to discuss your loan and how we might be able to help you at this difficult time, please contact your designated Portfolio Executive.

We are working closely with the government and business support organisations to keep up-to-date with developments during this challenging period.

Schemes and initiatives

Coronavirus Business Interruption Loan Scheme (CBILS): building upon infrastructure which is in place for an existing scheme, this fund is available to SMEs and looks to provide a range of financing support over the short to medium term. 

FW Capital are now an accredited lender under the Government’s Coronavirus Business Interruption Loan Scheme. If you would like to apply for a FW Capital CBILS backed loan please visit our dedicated CBILS page.

COVID-19 Corporate Financing Facility (“CCFF”): aimed at larger corporates who are strong credits (investment grade) but experiencing liquidity pressures due to the impact of COVID-19. The CCFF will allow large corporates to access short term financing through issuing Commercial Paper (“CP”). The fund will be managed and administered by the Bank of England (“BoE”) on behalf of HM Treasury.

Under this scheme, small and medium-sized businesses can borrow from £2,000 up to 25% of their turnover. The maximum loan available is £50,000. The government provides lenders with a 100% guarantee and covers the first 12 months of interest payments. After 12 months, the interest rate is set at 2.5% per annum. Find out more.

The Future Fund provides convertible government loans ranging from £125,000 to £5 million to innovative UK-based companies that are currently being impacted by the coronavirus. The loans are subject to at least equal match funding from private investors. The scheme is being delivered by the British Business Bank and is initially scheduled to be open for applications till the end of September 2020.

To find out more about applying for the scheme and the eligibility criteria please click here.

The government will pay grants to cover 80% of salaries (up to £2,500 a month) for those who are kept on by their employers but unable to work. Find out more.

The government has also published general guidance for employers and employees.

HMRC is offering flexible solutions to help businesses in the face of disruption caused by COVID-19 and has a helpline for businesses concerned about paying their taxes.

All VAT payments are deferred for three months, from 20 March 2020 until 30 June 2020. This is an automatic offer for all UK businesses, with no applications required. Any VAT not paid back during the deferral period will be due at the end of the 2020 to 2021 tax year.  Find out more.

Statutory sick pay will be available for eligible individuals who have been diagnosed with coronavirus or who are self-isolating. SMEs (businesses with fewer than 250 employees) will be able to reclaim the cost of 14 days of statutory sick pay per employee.

Businesses can apply for an additional 3 months to file accounts with Companies House to help avoid penalties as they deal with the impact of COVID-19. Please note this is subject to approval upon application. Find out more.

The government has announced a support scheme that will allow self-employed people to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. Find out more

Income tax self-assessment payments due on 31st July will be deferred until 31 January 2021

Some of the high-street banks have announced measures such as payment holidays to help their customers manage the impact of the coronavirus outbreak. The below are general helplines or dedicated numbers for coronavirus support:

Natwest - Speak to your Relationship Manager or contact 0345 711 4477

Barclays - Speak to your Relationship Manager or call 0800 1971 086. 

Lloyds - Promoting up to £2 billion of finance without fees to small businesses. Speak to your Relationship Manager

HSBC - Helpline 08000 121 614

RBS - Speak to your Relationship Manager or Call 0345 600 2230

In addition, assistance and advice is on offer from the many Growth Hubs across the North of England:

Cheshire & Warrington

Cumbria

Greater Manchester

Lancashire

Liverpool City Region

North East

Tees Valley