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High Street Banks Covid Support

HSBC

HSBC have confirmed they have allocated £5 billion to help businesses affected by coronavirus, and £3 billion to support importers and exporters. They are also an accredited CBILS partner.

What they’re offering:

  • Repayment holidays to free up cash within businesses.
  • Reviewing overdrafts or trade loans to allow stock to be held for longer.
  • Providing trade finance solutions to support customers with their supply chains.
  • Pre-approved 60-day extensions on trade loans for certain customers.

Who is eligible?

All HSBC business customers.

How to contact them:

You can contact the HSBC helpline on 08000 121 614 from 09:00 – 17:00 Monday to Friday.

You can also find out more about what they are doing here.

Lloyds Banking Group (Lloyds, Bank of Scotland, Halifax)

The Lloyds Banking Group have introduced a £2 billion package to help protect SMEs from the financial impact of coronavirus. They are also an accredited CBILS partner.

What they’re offering:

  • No arrangement fees for new overdrafts or overdraft limit increases.
  • No arrangement fees for new or increased invoice discounting and finance facilities.
  • Repayment holidays to those businesses impacted the most. These are subject to individual agreements.

Who is eligible?

Any small business customers of Lloyds or Bank of Scotland Business account with a turnover of up to £25m.

How to contact them:

Speak to your relationship manager, or call Lloyds on 020 7626 1500, or Bank of Scotland on 0345 300 0268.

Lloyds Bank customers can find more information here.

RBS Group (RBS, NatWest, Ulster Bank)

RBS Group have announced £5 billion of working capital support for SMEs affected by coronavirus. They are also an accredited CBILS partner.

What they’re offering:

  • Loan repayment holidays.
  • Temporary emergency loans with no fees.
  • Overdraft facilities.
  • Locally based Business Growth Enablers will also work with their external networks to distribute information to businesses on coronavirus preparedness.
  • NatWest customers can get consultancy and advice support through NatWest Mentor.

Who is eligible?

All NatWest Business customers. Normal credit checks might still apply, decided on a case-by-case basis.

How to contact them:

Speak to your relationship manager or call NatWest on 0345 711 4477 or Ulster Bank on 0345 366 5592.

RBS customers can find more information here.

Barclays

Barclays have announced a number of initiatives to help their business customers through this difficult period. They are also an accredited CBILS partner.

What they’re offering:

  • 12 month capital repayment holidays on existing loans over £25,000.
  • Increased or new overdraft facilities and other working capital solutions.
  • Access to funding – 360,000 SMEs have pre-assessed lending limits which can be accessed via the app or online banking.
  • In addition, the bank has an existing £14 billion lending fund, which was launched in 2019 as part of a three-year commitment to help SMEs build resilience during uncertain times.

Who is eligible?

All existing Barclays Business customers.

How to contact them:

Barclays’ helpline number is 0800 1971 0861 (Monday to Friday, 8am to 8pm). You can find out more information here.

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