Weekly Update 29 March 2021
Wednesday 31 March, is the final deadline to apply for a number of support schemes including:
- Bounce Back Loans
- New Apprenticeship Incentive Scheme
- Apprenticeship Return, Retain and Result Scheme
- Part A and B - COVID Restrictions Business Support Schemes
- Coronavirus Business Interruption Loan Scheme
- Coronavirus Large Business Interruption Loan Scheme
CavanaghKelly Easter Closure
Please note the CavanaghKelly offices will close on Thursday 1 April for the Easter holidays and will reopen again on Wednesday 5 April. We wish all our clients a lovely Easter.
Covid Restrictions Business Support Scheme
New applications to Part A and B of the Covid Restrictions Business Support Scheme will close at 6pm on Wednesday 31 March 2021. You will be unable to apply to the scheme after this date. Please note that if you have previously applied for the scheme you do not need to do this again as top-ups are automatically paid.
You may be eligible to claim if your businesses was:
- forced to close or severely limit their operations as a result of the increased Health Protection Regulations
- in the supply chain, forced to close or severely limit their operations as a result of the increased Health Protection Regulations
For further information on Part A of the scheme, click here.
For further information on Part B of the scheme, click here.
Applications for CBLIS and CLBILS - Deadline Tomorrow
The Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS) both close on Wednesday 31 March 2021.
Deadline for Two Apprenticeship Incentive Schemes
The deadline for applications for the Apprenticeship Return, Retain and Result Scheme (RRR) and the New Apprenticeship Incentive Scheme is tomorrow, Wednesday 31 March 2021.
Further details on each of the schemes is available below.
You can find the New Apprenticeship Incentive application form by clicking here.
It should be completed and emailed to apprenticeshipsrecovery@economy-ni.gov.uk.
You can find the Apprenticeship Return Retain and Result Scheme application form by clicking here.
If should be completed and emailed to apprenticeshipsrecovery@economy-ni.gov.uk.
Applications for Bounce Back Loans
Applications for the Government-backed loans for UK-based small and medium-sized businesses ranging from between £2,000 and £50,000 close tomorrow, Wednesday 31 March 2021.
For further information click here.
If you have taken out a Bounce Back Loan, the Government have provided options on the repayment of loans. You should receive correspondence from your lender up to 3 months before your first payment is due.
For information on repayment options, click here.
The Recovery Loan Scheme
The Recovery Loan Scheme will be available to businesses from Tuesday 6 April 2021.
For further information, click here.
Coronavirus: Protection from Eviction for Commercial Tenants
A reminder that commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction until Wednesday 30 June 2021. The measures mean that no business will automatically forfeit their lease and be forced out of their premises if they miss a payment. This protection falls under the Coronavirus Act 2020.
This is not a rental holiday and all commercial tenants will still be liable for the rent. All commercial tenants in Northern Ireland are eligible.
For further information, click here.
Co-Fund NI - £16m to Support SMEs
The Economy Minister Diane Dodds announced that Co-investment Fund NI is receiving additional funding over £15m to support Northern Ireland SMEs. Co-Fund NI is an equity fund that provides growth capital to early stage, high growth potential SMEs alongside lead private investors.
For further information, click here.
The Recovery Loan Scheme
The Recovery Loan Scheme will be available to businesses from Tuesday 6 April 2021.
For further information, click here.
Coronavirus: Protection from Eviction for Commercial Tenants
A reminder that commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction until Wednesday 30 June 2021. The measures mean that no business will automatically forfeit their lease and be forced out of their premises if they miss a payment. This protection falls under the Coronavirus Act 2020.
This is not a rental holiday and all commercial tenants will still be liable for the rent. All commercial tenants in Northern Ireland are eligible.
For further information, click here.
Co-Fund NI - £16m to Support SMEs
The Economy Minister Diane Dodds announced that Co-investment Fund NI is receiving additional funding over £15m to support Northern Ireland SMEs. Co-Fund NI is an equity fund that provides growth capital to early stage, high growth potential SMEs alongside lead private investors.
For further information, click here.
If you have any questions, contact us.
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.