Is your shop located in the United Kingdom? You have options.

Our peers abroad are also being heavily affected by COVID-19 and the subsequent closures. But don’t worry, there are several avenues of support for you and your barbershop to explore.

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. To be eligible to apply for a CBILS loan through Funding Circle you need to meet the following criteria…

    • UK-based business
    • Turnover of up to £45 million
    • 3 years of trading history
    • Over 50% of turnover from trading activity (e.g. not from investments)
    • Loan is for business purposes
    • Loan primarily for trading activity in the UK

If you are planning to apply for a CBILS loan through Funding Circle, we suggest preparing the following documents:

    • Business bank statements for the last six months, which must show…
          • Account name and (where possible) the registered address. (These must match the business you create the loan application for.)
          • The sort code and account number.
          • All daily transactions.
          • A history of a minimum of six months (with the most recent being within one month of your loan application date). If you can select an exact date range, be as up to date as possible.
      • Latest full unabbreviated accounts, which must include…
          • Profit and loss
          • Detailed profit and loss
          • Balance sheet information

 

For more information regarding the CBILS, click here.  

Click here for a list of accredited lenders and partners in the UK (you can filter financial requirements and region). 

 

COVID-19 support is available not only to employers, but to the self-employed, as well. You may be eligible for loans, tax relief and cash grants. Use this business support finder to see what support is available for you and your business.

 

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