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Covid-19: our response and ways we can support your business

With the situation surrounding Covid-19 continuing to develop, our relationship teams are ready to work with you and provide appropriate support, so please do not hesitate to get in touch with your relationship contact for assistance as needed.

Following the announcements from the UK government, the eligibility criteria for the Coronavirus Business Interruption Loan scheme (CBILS) have now been updated. You can find out more on our dedicated CBILS page.

For information on the Coronavirus Large Business Interruption Loan scheme (CLBILS) for larger businesses please visit the CLBILS page.

Financial support

Around the world, central banks and governments have taken unprecedented steps to support their economies through the pandemic. For most, now the question is how to balance economic and health concerns with the virus in circulation. So the nature and type of financial support available is changing regularly depending on sometimes extremely local pressures.

In the UK, the Coronavirus Job Retention Scheme, or furlough scheme as it’s more commonly known, has begun winding down. Employers should now start looking towards the bonus available for bringing staff out of furlough and keeping them in their jobs.

Four major loan schemes were set up to support businesses, depending on the size and complexity of your company. These are:

  1. Bounce Back Loans (BBLs) – for small businesses. More information on BBLs is available on the Barclays UK website.‡
  2. The Coronavirus Business Interruption Loan Scheme (CBILS) provides up to £5 million to SMEs, and the first 12 months of that finance will be available interest-free, with the interest covered by the UK Government. Read more about CBILS here.
  3. The Coronavirus Large Business Interruption Loan Scheme (CLBILS) provides loans of up to £200 million for businesses with turnover greater than £45 million. The loans are 80% guaranteed by the UK Government. CLBILS has no upper turnover limit. Read more about CLBILS here.
  4. A Covid-19 Corporate Finance Facility (CCFF) supporting corporates who would normally seek market-based finance for their working capital. Find out more on the Bank of England website^

There are a range of other support measures for UK businesses, and you can find the details of these on the GOV.UK website here^.

Business loans

Solutions

Coronavirus Business Interruption Loan (CBILS)

Discover the Barclays Corporate Coronavirus business interruption loan to gain the financial backing you need to help your business cope with the Covid-19.

solutions

Coronavirus Large Business Interruption Loan (CLBILS)

Discover the Barclays Corporate Coronavirus large business interruption loan to gain the financial backing you need to help your business cope with the Covid-19 (for businesses with turnover greater than £45m).

International trading

Barclays has introduced a number of measures to support international clients and customers. These include streamlined access to Barclays Trade Loan solution, enabling payments to your supplier base to be tailored to your trade cycle1.

Barclays has also introduced a simplified process for requests to extend existing trade loan facilities2 and enabled bespoke solutions for submission of Trade related documentation, like guarantee applications, to support clients working from home.

Please note that support for UK Exporters and their supply chains can also be accessed through the recently streamlined UK Export Finance solutions, which include working capital and guarantee issuance with up to 80% government support available.

Barclays is working with HM Government, the Department for International Trade and UK Export Finance to bring further help for UK businesses trading overseas.

Our Trade & Working Capital specialists are here to help and to work with you to create the tailored solutions needed by your business.

Please do call us on 0330 159 5983 (open 9am – 5pm Monday to Friday) or click here to email .

1 Subject to application and Credit approval. Security may be required. Terms and conditions apply.
2 Subject to criteria

Fraud

If you have implemented contingent/multiple location working in your organisation, we have created an FAQ which provides guidance on how our digital channels can be accessed.

The UK Government has created an FAQ which includes advice on whether your business premises should be open, and support if the advice is to close.

Fraudsters will be looking for opportunities to exploit any vulnerabilities in your processes while your staff are working remotely. Make sure you and your colleagues stay vigilant, wherever they are working from.

Read more about some of the tactics fraudsters are using on our Covid-19 fraud page.

Barclays resilience’

Barclays staff around the world have been working remotely since the start of lockdowns in affected regions. 

We are monitoring the development of Covid-19 and taking appropriate steps to protect our colleagues so that they can continue to serve you, our customers and clients.

Our existing, well-practised resilience strategies are designed to maintain services to customers in spite of disruption and these have been enhanced to meet the challenges of Covid-19.

Barclays will consistently track government advice in the respective country/locality, and may determine that further steps are appropriate depending on particular circumstances. Accordingly, we may need to limit our services to clients and customers to meet the challenges that arise.

Join our calls

We have been hosting regular calls to best answer your questions and share updates from the team at Barclays. The last call focused on Energy and Infrastructure and took place on Thursday 27th August – if you missed this, please click this link.

Our next call will focus on Brexit. We will share an update on the political negotiations, and discuss the chances of a deal being done ahead of the deadline on Thursday, 31 December. We will also look at trading opportunities for businesses in the UK, Europe and beyond and how businesses can best prepare for the new EU-UK relationship. Register now for the call on Friday 4th September. Click here to register.

 

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