Coronavirus – help and support for your business

We understand it’s a tough time for business owners at the moment. You might be feeling distressed and anxious, so we’ve put together some resources to help.

Here’s where you can find support on managing your money worries, and taking care of your mental wellbeing.

The CBILS is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. Learn about the scheme, see if you might be eligible and find out how to apply.

You can apply up to 31 March 2021.

Government schemes

As well as the Coronavirus Business Interruption Loan Scheme, the government has a number of other schemes and grants available to support small businesses affected by the coronavirus pandemic.

• Self-employed people (sole traders and members of unincorporated partnerships) can apply for a grant through the Self-employment Income Support Scheme, worth 80% of their profits up to a cap of £2,500 per month
  
• Small businesses that occupy a property and receive small business rate relief, rural rate relief and tapered relief are eligible for Small Business Grant Funding
• Businesses that employ staff can apply for the Coronavirus Job Retention Scheme and the statutory sick pay rebate
• Nursery businesses could get a business rates holiday for the 2020-21 tax year
• Retail, hospitality and leisure businesses could also get a business rates holiday, plus a cash grant of up to £25k per property
• Innovative businesses that rely on equity investment and are unable to access the Coronavirus Business Interruption Loan Scheme can apply for the Future Fund. The Future Fund will provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors.

You can find out more about the government’s financial support for businesses on its website.

How we're helping

We’re helping our business banking customers in a number of ways

• For business customers with an annual turnover up to £250k, we’re offering free everyday banking⁸ and waiving fees and interest on overdrafts between 13 March and 12 June. You don’t need to contact us, it’ll happen automatically
• Offering capital repayment holidays on existing business loans over £25k³
• Continuing to offer businesses access to funding⁹. To speed things up, you can check if you’ve got a pre-assessed lending limit¹⁰ in the Barclays app¹¹ or in Online Banking
• Offering the government-backed Coronavirus Business Interruption Loan Scheme¹

The main government scheme to help self-employed people is the Self-employment Income Support Scheme. You can apply for a grant worth 80% of your profits up to a cap of £2,500 per month, calculated using the average profits from your last three years’ tax return. You must have filed your 2018-19 tax return to be eligible – the government has given an extension until 23 April if you haven’t done this yet.

Once the scheme is up and running, HMRC will check potential eligibility and aim to contact you by mid May 2020. The government has published frequently asked questions about this scheme.

The government has other support schemes available, too.

• If you’re a zero-hours worker or freelancer, it’s worth checking with employers whether you’ve been set up on their PAYE scheme, as you could be eligible to get 80% of your wage up to £2,500 per month for three months from 1 March
• Self-employed people affected by the coronavirus situation can claim Universal Credit or Contributory Employment and Support Allowance. The government has guidance on who’s eligible for Universal Credit and how to apply
• Income tax self-assessment payments have been delayed until 31 January 2021 by the ‘Time to Pay’ scheme
• For contractors, the government has delayed the introduction of the new off-payroll working rules and the implementation of IR35 until 2021.

Loans under £25,000

If you originally borrowed less than £25,000, you might be eligible for a three-month repayment holiday. This means

• You won’t need to make a payment on your next three monthly repayment dates
• We’ll extend the term of your loan by three months, and add your three deferred payments to the end of your term
• Even though you’re not making payments during the repayment holiday, we’ll still charge interest on your loan during this time, at the rate stated in your loan agreement – you’ll need to pay any interest you’ve accrued at the end of your extended term
• The total amount you’ll have to repay will be more with a repayment holiday than without one. You can pay the accrued interest back whenever you like – you don’t have to wait until the end of your loan
• We’ll continue to give information about your account to credit reference agencies
• The repayment holiday is subject to eligibility criteria and terms and conditions. All other terms and conditions of your loan will stay the same

Loans over £25,000

If you originally borrowed more than £25,000, you might be eligible for a capital repayment holiday of up to 12 months. We can usually agree that within 48 hours after you apply if

• Your loan term stays the same (which means your repayments would increase after the holiday)
• You’ve been a Barclays client for at least a year
• You’re not in the commercial property sector

Alternatively, you can refinance your loan to extend the term and reduce the payments, with the option to include a repayment holiday. 

Next steps

To find out more or apply, please fill in our call-back form. If you have a payment due in the next ten days, your repayment holiday will start from the month after.

There are also a number of government support measures for businesses, like grants, that you might be eligible for – find out more about these at gov.uk.

You can learn more about the government’s finance options, and see if there’s a provider who could give you the finance you need. 

You can also appeal against our lending decision.

Before the end of April, all businesses will be eligible for grants from the Coronavirus Job Retention Scheme to cover a portion of workers’ salaries if a business has to furlough them as a result of the coronavirus situation.

The government will pay up to 80% of furloughed employees’ salaries, and employer National Insurance and pension contributions (up to £2,500 per month) as a grant. The pay will be backdated to 1 March 2020 and is also expected to apply to employees made redundant because of coronavirus, who’ll eventually return to work. The scheme will run for a maximum of three months and employees can’t work during that period. 

This scheme lets UK businesses affected by coronavirus apply for loans of between £2,000 and £50,000. The Bounce Back Loan scheme was launched on 4 May 2020.

You can apply up to 31 March 2021.

Visit our service status page for the latest updates on how our services are working.

To make sure we’re able to protect our customers and colleagues throughout the coronavirus outbreak, some of our branches will have different opening hours or be temporarily closed. Search for your local branch on our branch finder for the latest information.

The Barclays app¹¹ and Online Banking are available 24/7, so it’s easy to stay in control of your money remotely. If you’re not already using our digital tools, register for Online Banking, or download the Barclays app by visiting your device’s app store.

We’re experiencing an unprecedented number of calls at the moment, which is having a big impact on our call waiting times. We’d be really grateful if you’d only call us if you’re worried about an immediate problem with your finances. That way, we can focus on helping those who are most vulnerable.

If you need to talk to us about a Coronavirus Business Interruption Loan, new lending, or a capital repayment holiday, request a call back instead of waiting in a queue.

We’ve launched a helpline for all our Business Banking customers impacted by the coronavirus situation. Call 0800 197 1086⁷ between 8am and 8pm Monday to Friday (except bank holidays).

If you need help with your everyday banking or managing your business, you can still contact us in the normal way.

• Use the Barclays app to call us directly – just tap ‘Help’ and ‘Contact us’
• Send us a secure message from Online Banking – we’ll usually respond within 48 hours

Call our UK-based Everyday Banking team. You might have to wait much longer than usual – please bear with us while we help as many customers as we can. Please call the relevant number

If you’re running your business remotely, you might need to change who’s authorised to manage your business bank accounts. Call us on 0333 202 7477¹² if you’d like to update the signatories on your account (also referred to as your business mandate). Lines are open Monday to Friday, 8.30am to 6pm.

We’ve put together a guide for Barclays.Net users [PDF, 238KB] to help you adapt your set up, including reviewing user access and checking users can log in remotely. If you need extra help, call 0800 027 1321⁷. Lines are open Monday to Friday, between 8am and 7pm.

During this pandemic, looking after your own and your employees' health must be the top priority. If you have symptoms of coronavirus, it’s essential you follow the government’s latest advice to protect yourself and others. The government also has advice on the financial support available for individuals, businesses and the self-employed who are, or have been, affected by coronavirus.

You might want to think about who has access to your business bank accounts and make changes to your business mandate. A mandate is a set of instructions and a list of people in your business who are authorised to manage its bank accounts. People named on the mandate can manage everyday banking, including making payments, and sign up for products and serviceswhere appropriate. Call us on 0333 202 7477⁷if you’d like to change your mandate. Lines are open Monday to Friday, 8.30am to 6pm.

If your employee has symptoms of coronavirus, it’s essential they follow the government’s latest advice to protect themselves and others.

The government has also published a host of guidance for employers and businesses on everything from managing employee absences to helping limit the spread of the virus. Small businesses will also be able to reclaim Statutory Sick Pay (SSP) that’s paid for sickness absence due to coronavirus for up to two weeks per employee. The government is working with employers over the coming months to set up the repayment system for employers. Make sure you keep records of all the SSP you want to claim for.

Government guidelines require employees to work from home wherever possible, which could also mean flexible hours and staff rotation. Barclays Eagle Labs has produced a helpful guide to effective remote working, plus tips on how to boost creativity between remote teams.

You might want to boost your business’s online presence during this time. Read our guide to boosting your digital skills to learn more about reaching your customer base online and building your brand through social media. 

The National Cyber Security Centre has guidance on video conferencing security for organisations and individuals. 

The government has produced a guidance document and compliance advice for businesses that are asked to close as part of further social distancing measures, including information on financial and business support. Before the end of April, all businesses will be eligible for grants from the Coronavirus Job Retention Scheme to cover a portion of workers’ salaries if a business has to furlough them as a result of the coronavirus situation.

The government will pay up to 80% of furloughed employees’ salaries, and employer National Insurance and pension contributions (up to £2,500 per month) as a grant. The pay will be backdated to 1 March 2020 and is expected to apply to employees made redundant because of coronavirus, who’ll eventually return to work, as well. The scheme will run for a maximum of three months and employees cannot work during that period. Read more about the financial support available to businesses.

Closing your business brings more than just financial challenges. When you’ve invested so much in your business – and your customers – closing your doors can be a big knock to momentum and your wellbeing. But you can try to stay connected with your customers, staff and business network through digital tools and social media.

There may be an alternative way to continue delivering your product or service to customers digitally, but if there isn’t, social media lets you stay in touch. You could even use the temporary closure to hone your skills, for example, by doing online courses. Barclays Eagle Labs has a host of content and resources to help you take care of yourself on its support hub.

Here are some ways you can help manage disruption to your supply chain during the current situation.

• Map your supply chain to understand exactly who’s involved and where hold-ups might occur – and keep your customers informed
• Keep in touch with your suppliers to understand their challenges and work together to develop solutions
• Consider how your business can spread its supply chain risk by sourcing new suppliers in different locations
• Consider renegotiating contracts, pricing or credit terms with suppliers
• For advice and support on overseas supply chains, contact the Department for International Trade or take a look at the government guidance for businesses trading internationally

With many businesses now operating remotely and millions of people spending more time online, the government has launched Cyber Aware, to help you stay secure online throughout the coronavirus pandemic. Read their small business guide to help improve your cyber security quickly and easily.

• Be extra vigilant about cybercrime, payment scams and fake emails, particularly CEO impersonation and invoice fraud, as cyber criminals will try to exploit the current situation
• Make sure all employees are aware of payment protocols and that any payment request is verified verbally by a trusted source
• Maintain appropriate physical security procedures, for example, for managing cash, empty premises and unknown contractors

Read our tips on how you could adapt your business during this challenging time.

If you’ve furloughed your staff, we’ve got some ways you can support them, whether they’re not working, planning their return or already back at work. Read our tips.