The Department for Business, Energy and Industrial Strategy’s Enterprise Finance Guarantee Scheme, available through high street banks, is a guarantee facility for small UK businesses to improve the availability of working capital through term loans and the consolidation of overdrafts. It will also support lending for business growth and development in cases where a sound proposition may otherwise be declined due to a lack of security. Open to small businesses in the UK with an annual turnover of up to £41 million that are currently not easily able to access the finance they need.
The Prince's Trust and NatWest have launched a £5million grant fund for young entrepreneurs whose businesses have been affected by the coronavirus outbreak. The Enterprise Relief Fund aims to help 18-30-year olds keep their businesses afloat during the COVID-19 crisis. Cash grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers. Additionally, grants will support young people to diversify their business to respond to opportunities created by the crisis.
In conjunction with grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future. To be eligible, businesses must have started up in the last four years and be run by someone aged 18 to 30. Young people who are in the process of starting a business and do not have any other source of income during the crisis are also eligible to apply for a grant.
Facebook Small Business Grants Programme coming soon. Small businesses in over 30 countries where Facebook operates may be eligible to apply.
ESF Community Grants awards funding of up to £20,000 to organisations who can run projects that support people unemployed (for 6 months minimum) back into work/ training. Follow the link for more information and to apply.