A message to our clients

                 

We’re open for business and want to support you…

23rd March 2020

In what is an uncertain and unprecedented time for businesses, we want to reassure you that we’re doing everything we can to support you through this difficult period. We understand that having the right funding in place to ensure your business has the cash flow to trade through these challenging times is vital.

We are here to support you
We are very much open for business and are operating a normal service having enabled our employees to work from home. Your funding solution will continue without interruption. If your circumstances change, please talk to us by contacting us in the normal way – by email or phone. We have a range of funding solutions that will work to support your business’s cash flow from invoice finance, asset finance, loans and vehicle finance.

Here at 1pm we recognise there’s never been a more important time than now for businesses to support each other and we’re by your side every step of the way.

We have always prided ourselves on offering a fair, flexible, trusted and personal service, and now is no different. We don’t use algorithms; we really get to know your business and your individual needs. Our expert teams will work to support you on a personal, case-by-case basis, meaning we can ensure you get the help that is right for you.

A government package to support you
We want to take this opportunity to also highlight a number of initiatives the Government has announced over the last few days to support British business that you may also benefit from:
• a statutory sick pay (SSP) relief package for SMEs – the government will refund you the first two weeks of SSP paid to employees unable to work due to Coronavirus – https://www.gov.uk/statutory-sick-pay
• a 12-month business rates holiday for all retail, hospitality and leisure businesses in England – https://www.gov.uk/government/publications/business-rates-retail-discount-guidance
• small business grant funding of £10,000 for all businesses in receipt of small business rate relief or rural rate relief. If you are an eligible business, your Local Authority will then be in touch in the coming weeks to provide details of how to claim this money – https://www.gov.uk/government/publications/support-for-those-affected-by-covid-19
• grant funding of up to £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000. If you are an eligible business, your Local Authority will then be in touch in the coming weeks to provide details of how to claim this money – https://www.gov.uk/government/publications/support-for-those-affected-by-covid-19
• the Coronavirus Business Interruption Loan Scheme (CBILS) will be offering loans of up to £5 million for SMEs through the British Business Bank, expected to become available as of Monday 23 March – https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/
• a new lending facility from the Bank of England to help support liquidity among larger firms, helping them bridge coronavirus disruption to their cash flows through loans – https://www.bankofengland.co.uk/coronavirus
• the HMRC Time To Pay Scheme – https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19

We strongly advise that you look into what support you may be eligible for and take advantage of it to protect your business and your cash flow as much as you can.

Further information and advice
Further information and advice to support you and your business can be found here:
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
https://www.british-business-bank.co.uk/ourpartners/supporting-business-loans-enterprise-finance-guarantee/
https://www.ukfinance.org.uk/policy-and-guidance/guidance/let’s-talk-business-covid-19
https://www.fla.org.uk/coronavirus-covid-19–updates/

We will do our best to keep you updated and informed with any financial support developments as they arise. Should you have any questions at all, please don’t hesitate to get in touch.

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