UK Finance, the trade body representing more than 250 financial services firms across the UK, today announced that more than £2.8bn of funding had been lent to businesses under the Government’s Cornonavirus Business Interruption Loan Scheme.

The organisation said that more than 9,000 loans have been approved over the past seven days, taking the total number of loans allocated to 16,600. Lenders have received more than 36,000 applications since the scheme was launched earlier this month.

Commenting, Scott Knowles, Chief Executive of East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire), said: “Although the increase in firms accessing CBILS is encouraging, there is still a clear need to ensure that the gap between applications received and those processed and approved can be closed quickly to ensure funding can reach the businesses which need it.

“Many firms are urgently trying to access financial support to help them ease cash flow and wage pressures and having to wait for their applications to be processed could be having a critical impact on their operations.

“We are also hearing from a lot of local businesses that accessing the scheme is a complex and lengthy process with no consistent approach between lenders, which is causing real problems on the ground.

“Government and lenders must continue to work together to address these common issues and improve the way the scheme works, so more firms on the frontline can access the cash they need, quickly.”

Lime Living Estate Agents, based in Chesterfield town centre, have created a poster display with colourful artwork made by local children to thank NHS staff and key workers.

Jamie Wajs, Director of Lime Living Estate Agents, said: “We initially asked family & friends who are home schooling if they would like their children to have some fun and create a poster for our town centre office window. We gave a simple brief of make it bright, with a supportive and positive message for anyone passing and in particular for key workers and NHS staff – All of whom we are all very grateful to for their continued hard work, bravery and unselfish efforts during this pandemic.”

He added: “The posters that have been produced so far are excellent and we still have a few more window spaces to fill. If anyone would like to help fill our window, please email us!”

The posters are currently on display in the window of their office on Saltergate. Posters can be submitted by sending a landscape, jpeg image or photo of their design to info@limeliving.co.uk.

The Lime Living team are currently working in a remote capacity and are still able to advise those looking to move, as well as those with queries regarding residential lettings, sales, land, auctions and commercial services.

A new ‘support finder’ tool will help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the coronavirus pandemic.

The new online platform helps businesses easily access the financial support they are eligible for during the coronavirus pandemic.

Access the platform here

A simple questionnaire takes business owners under a minute to complete and will signpost them to relevant government financial support.

Business Secretary Alok Sharma said “Businesses of all shapes and sizes play a vital role in our economy, which is why we want to make it as easy as possible for all of them to access our wide-ranging package of financial support during this challenging time.”

This online questionnaire takes just minutes to complete and will quickly signpost a business to the loans, grants or other schemes they could be eligible for.

Chancellor of the Exchequer Rishi Sunak said “We’ve launched an unprecedented package of support to protect jobs, businesses and incomes during these challenging times.

Millions are already benefitting and this new online tool will allow firms and individuals to identify what help they are entitled to in a matter of minutes.

We are doing everything we can to make our support as accessible and as easy to navigate as possible.”

To support business, workers and the self-employed during the coronavirus outbreak, government has:

• Made up to £330 billion of loans and guarantees for businesses
  offered to pay 80 per cent of the wages of furloughed workers, up to £2,500;
• Deferred the next quarter of VAT payments for firms, until the end of June – representing a £30 billion injection into the economy;
• Introduced £20 billion in tax relief and cash grants to help businesses with cash flow;
• Introduced the Coronavirus Business Interruption Loan Schemes for both SMEs and larger businesses to make it easier to access vital financial support;
• Offered to cover the cost of statutory sick pay;
• Entirely removed all eligible properties in the retail, hospitality and leisure sector from business rates temporarily;
• Introduced the Self-employment Income Support Scheme, offering a taxable grant worth 80% of trading profits up to a maximum of £2,500 a month;
• Deferred Self Assessment payments due in July 2020 until 31 January 2021;
• Allowed companies required to hold AGMs to do so flexibly, which may include postponing them or holding them online;
• suspended wrongful trading provisions for company directors to remove the threat of personal liability during the pandemic;
• Offered a 3 month extension for filing accounts to businesses hit by coronavirus.

For information about national and local support you can also visit the Destination Chesterfield Corona Virus Business Support Page.

We are supporting local during the Corona Virus, check out how you can support local businesses who can deliver to your home, keep you entertained and offer support for your business.