As we enter the seventh week of lockdown, Simply continues to support our customers in every way we can.
The government has just announced that from this week, small businesses in the UK can apply for bounce back loans of up to £50,000. This is a new form of 100% guaranteed government-backed credit that should help companies through the coronavirus crisis. Whilst we do not offer this ourselves, it is available through a range of British Business Bank accredited lenders and partners. If you are interested in finding out more, please click on this link.
We also have access to a dedicated interest only furlough funding facility via our funding partners which is designed to help our customers cover the costs of salaries due until payments from the government furlough scheme are released. This short-term working capital product will hopefully enable you to retain employees and meet forthcoming salary payments.
As ever, if you would like to talk to us about furlough funding, other requirements, current agreements or would just like a friendly chat, please contact us. The best way to do this is via your local sales manager, broker manager, email us or call us on 0203 369 6000.
I would like to thank my colleagues who are working harder than ever to support you and help you navigate through this difficult time.
Stay safe and take care
Best wishes
Mike Randall
CEO, Simply