Coronavirus support for businesses
If you are concerned about coronavirus and the impact it is having on your business we’re here to help. From explaining the various government lending schemes that may be available to you and how to apply, to tips and techniques to protect your business from being a victim of fraud, plus lots more support and tips to help you.
Get advice as a business, employer or employee
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses at this time. You can find the most up to date information on all support options available on the UK Government’s website:
Government guidance and support for businesses
If you need support paying the wages of staff who have been furloughed due to coronavirus, you may be able to claim through the Government’s Coronavirus Job Retention Scheme.
There is support available for those who are self-employed and have lost income as a result of the coronavirus crisis. Find out more about the Government’s Self-Employment Income Support Scheme and what it means for you.
The Government and Federation of Small Businesses continue to publish up to date guidance and articles to support businesses, employers and employees.
These articles contain information about:
- the novel coronavirus, COVID-19
- how to help prevent spread of respiratory infections including coronavirus
- what to do if someone with suspected or confirmed coronavirus has been in the workplace
- what advice to give to individuals who have travelled to specific areas
- advice for the certification of absence from work resulting from coronavirus
FSB advice about coronavirus for small businesses and FSB customers
Government advice about coronavirus for employees, employers and businesses
Support tools
The Government has launched a new coronavirus business support finder tool – to help businesses and self-employed people quickly and easily determine what financial support is available to them. The tool asks business owners to fill out a simple questionnaire, which only takes minutes to complete. It will then provide a list of all the financial support they may be eligible for.
Financial support for business
Government backed lending schemes
- We’re currently working closely with The British Business Bank following the Chancellor’s recent announcements providing further support for businesses through the Recovery Loan Scheme.
Bounce Back Loan Scheme
The deadline for applying for a BBLS loan was 31 March 2021. Therefore, the scheme is now closed to new applications.
Coronavirus Business Interruption Loan Scheme
The deadline for applying for a CBILS loan or overdraft was 31 March 2021. Therefore, the scheme is now closed to new applications.
Find out more about the coronavirus business interruption loan scheme
Coronavirus Large Business Interruption Loan Scheme
The deadline for applying for CLBILS was 31 March 2021. Therefore, the scheme is now closed to new applications.
If you already have a CLBILS loan and have any queries please contact your relationship manager.
Pay as You Grow
The Government has announced Pay As You Grow options for Bounce Back Loan borrowers to help businesses get back to regular trading. Pay As You Grow could give you more time and flexibility to pay back your loan.
Find out more about Pay as You Grow options
Other lending options
There are lending products available from us such as overdrafts, loans or charge cards. We can look at temporary increases or requests to pause or reduce current payment obligations, and will take a flexible approach, based on your individual circumstances.
Financial Difficulty
At this difficult time, it’s important that you know you're not alone. If you need any guidance or support regarding your finances we’re here to support you.
Accessing your account
During this period our phone lines are receiving a high number of calls and wait times can longer than usual, we advise customers to use their online banking during this time so you're still able to access your account as normal.
Within online banking you can:
- Check your balances
- View your statement information
- Make payments to another person or company
- Transfer money between your Co-operative Bank business accounts
If you aren't yet registered for online banking you can easily do this by completing our registration form to be emailed in.
Staying safe online
Keeping your information secure and confidential is crucial to us. Find out how we keep your money safe and what you can do to protect yourself when banking online.
Fraud awareness
Keeping your money safe is one of our top priorities. Opportunistic fraudsters are using the coronavirus outbreak to scam businesses out of banking details and business information.
We will continue to raise awareness of common fraud scams and threats, and are committed to working with the wider industry on initiatives such as Take Five.
Contacting the bank
Due to the impacts of coronavirus on our colleagues, we have taken the decision to reduce our contact centre opening hours to 8am – 6pm Monday to Friday. We will be closed on Saturdays.
Please be aware, we are currently dealing with unprecedented levels of calls. Help us to protect our services and support our most vulnerable customers by only contacting us if it is urgent.
You can continue to manage your money from home using online banking. Getting started is easy and you can find more information below.
Registering for online banking
Visiting our branches
Our branches will stay open wherever possible during this challenging time. However, opening hours may vary. If there are any changes to our branch opening hours, they will be updated on our branch locator page.
We have robust measures in place to ensure the continued safety and wellbeing of branch colleagues, including social distancing using security screens, enhanced cleaning standards and telephone appointments. In order to further protect our colleagues, customers and communities, we would ask that you only visit a branch if absolutely necessary. Please adhere to Government advice and stay at home where possible.
Remember, online banking is available for your daily banking needs.
Contact us
If you'd like more help & information, you can:
