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Covid-19 latest economic measures

Posted by Admin Posted on 18 Mar 2020

The Government have announced yesterday (17th March) additional financial support for businesses during the Coranavirus outbreak. £330billion is being made available in Government backed, low cost loans. Loans of up to £5million with no interest payable for 6 months will be made available for businesses in financial difficulty. Businesses that qualify for Small Business Rate Relief will be able to apply for a grant of £10,000 from their local authorities, an increase from the previously announced £3,000. Both these schemes should be in place by next week. Mortgage lenders will also provide a 3 month 'mortgage holiday' for those struggling to make their mortgage payments due to the virus.