BARCLAYS PLC During this period, we understand that many customers and clients are experiencing a range of difficulties, whether that's customers making repayments on their mortgage or clients experiencing challenges with cash flow and beyond.
Across the UK, Barclays is helping with access to finance and wider support. We are proactively contacting businesses and notifying customers to help them navigate the challenges and uncertainty generated by coronavirus (COVID-19).
We are here to help you manage your money, and are constantly looking at ways to make things easier.
New support includes:
- Waiving overdraft chargesWaiving overdraft charges
To help during this time, we're capping overdraft interest charges on personal current accounts at £180 per monthly charging period until 21 March 2021.
We've put together a range of guides to support you, and help you manage your finances and improve your financial habits.
During 2020 we:
- Didn't charge any interest on overdrawn balances on personal current accounts from 27 March to 30 April 2020.
- Between 1 May and 9 July 2020, we didn't charge interest on overdrawn balances of up to £750.
- From 10 July to 10 August, we didn't charge interest on overdrawn balances of up to £500.
- If, during those times, you used more of your arranged overdraft than the amounts above, we waived some of the interest to reduce the annual rate of interest (EAR) to 19.51%.
Find out more - Mortgage repayment holidaysMortgage repayment holidays
You can take up to six months of temporary coronavirus mortgage support from March 2020, in periods of up to three months at a time. Support means payment holidays, temporarily reduced payments or both.
You can take periods of support flexibly at any time up to and including 31 March 2021 (until you reach the maximum of six months).
After 31 March, you can only ask for more support if you're already receiving temporary mortgage support.
Any temporary mortgage support we offer after 31 March will stop on 31 July, even if you haven't received the maximum of six months.
Find out more - Barclaycard payment holidaysBarclaycard payment holidays
We're offering payment holidays on your Barclaycard to help you if the coronavirus situation has affected your income.
If your Barclaycard payment holiday is coming to an end, there are a number of different scenarios you could be facing. We have a range of support that can help you take the next steps.
Find out more - Barclayloan payment holidaysBarclayloan payment holidays
If your income has been affected by the coronavirus outbreak, you can apply for a 3-month break from making your loan repayments.
Find out more - Savings, ISAs and bondsSavings, ISAs and bonds
We've made some temporary changes to a range of savings accounts to help if you need to access your money, including new withdrawal limits.
Find out more - Additional supportAdditional support
Find out more about further support available on finances, travel, and tips on staying safe from fraud.
Find out more
We are here to help businesses through this challenging time - in whatever way we can.
New support includes:
- Bounce Back Loan schemeBounce Back Loan scheme
This is available to UK businesses that have been negatively affected by coronavirus. You can apply for a loan between £2,000 and £50,000, subject to the eligibility criteria.
The loan term is six years, but you can pay back the loan sooner with no early repayment charge.
The UK government will guarantee 100% of the loan and there won't be any fees or interest to pay for the first 12 months.
If you already have a Bounce Back Loan, and didn't borrow the maximum amount you're eligible for, you may be able to apply for a top-up.
You can apply up to 31 March 2021.
Find out more - Coronavirus Business Interruption Loan Scheme (CBILS)Coronavirus Business Interruption Loan Scheme (CBILS)
Get the financial backing you need to help your business cope with coronavirus (COVID-19) through this UK government-backed scheme.
It is there to provide eligible businesses with lending of up to £5 million and the government will cover the first 12 months of interest payments. We do not take personal guarantees on any CBILS loans.
You can apply up to 31 March 2021.
Find out more - Back to Business ProgrammeBack to Business Programme
We understand the challenges your business is facing right now and want to support you. That's why we've created Barclays Back to Business Programme with Cambridge Judge Business School - an online toolkit that you can navigate in your own time, developed especially for small-to-medium sized enterprises.
From your start date, you'll have two months to access and complete the Back to Business Programme, which should take 15 hours of your time. The programme will help you assess the health of your business and identify how to sustain or grow it during a crisis, with scenarios you can use to see how the pandemic might affect your business in future. The key output will be a resilience plan for your business, which you can continue to test and evolve over time.
Find out more - Nextdoor offerNextdoor offer
We've teamed up with Nextdoor, the neighbourhood hub to help you reach thousands of potential customers. During the coronavirus (COVID-19) situation, we'll help you connect with verified local residents instantly without the need to build likes or followers.
Find out more - Further Government supportFurther Government support
As well as the Coronavirus Business Interruption Loan Scheme, the UK government have a number of other schemes and grants available to support small businesses negatively impacted by coronavirus, including:
- Businesses who employ staff can apply for the Coronavirus Job Retention Scheme and the statutory sick pay rebate
- Nursery businesses could get a business rates holiday for the 2020-21 tax year
- Retail, Hospitality and Leisure businesses could also get a business rates holiday
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Innovative companies which are facing financing difficulties due to the coronavirus outbreak can apply for loans between £125,000 to £5 million through the coronavirus Future Fund
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Business can apply for a £1,000 one-off taxable payment for each eligible employee that was furloughed and kept continuously employed until 31 January 2021 using the The Job Retention Bonus.
- All business types may be eligible to defer VAT and tax payments
- Use this business support finder to see what support is available for you and your business.
Find out more - Additional supportAdditional support
Find out more about further support available for your business.
Find out more
Our relationship teams are ready to provide support to clients facing challenges to their operations.
New support includes:
- COVID-19 Corporate Finance Facility (CCFF)CCFF
This is available to support corporates who would normally seek market-based finance for their working capital. The facility stands ready to support unlimited financing to eligible companies.
Find out more - Coronavirus Large Business Interruption Loan Scheme (CLBILS)Coronavirus Large Business Interruption Loan Scheme (CLBILS)
Launched on 20th April with loans of up to £25 million available for businesses with a turnover between £45m and £250m. Loans of up to £200m and are backed by a UK government guarantee, CLBILs has no upper turnover limit.
Find out more - Job Retention SchemeJob Retention Scheme:
A Coronavirus Job Retention Scheme whereby those who might otherwise have been laid off due to the Covid-19 outbreak can be kept on thanks to the Government reimbursing 80% of an employees' wages up to a maximum of £2,500 per month.
Find out more - International TradeInternational Trade
If you're facing challenges caused by COVID-19 we're here to help. Our team of Relationship Managers and specialists stand ready to discuss any financial impacts you may be experiencing and explore all appropriate options to support you during this time.
We encourage any client who needs information, guidance or is experiencing any financial difficulty to contact their Barclays Relationship Manager or our client service centre staff for help at the earliest opportunity.
Find out more - Further Government supportFurther Government support
- Business rates are to be suspended for all retail, hospitality and leisure businesses in England, for 12 months. This has been extended to also include nurseries
- Hospitality and leisure businesses that have been forced to close following government advice will be able to claim on their insurance where they have the appropriate cover for a pandemic
- Pubs and restaurants that do not already provide takeaways will be able to do so without submitting a planning application.
- Use this business support finder to see what support is available for you and your business.
Find out more - Additional supportAdditional support
Find out more about further support available for your business.
Barclays COVID-19 Community Aid Package
Launched in April, this fund will provide £100 million to charities working to support vulnerable people impacted by COVID-19, and to alleviate the associated social and economic hardship caused by the crisis.
We have been doing all we can to look after our customers, clients, and colleagues through this crisis. We want to do more to back the communities in which we live and work and that's why we've launched this community aid package, working with charity partners here in the UK and around the world to deliver help where it's needed most.
Jes Staley
Barclays Group CEO
Backing UK businesses through COVID-19
Across the country, Barclays colleagues are working flat out to support businesses through these uncertain times, getting appropriate funding to those that need it, and offering broader support to help them deal with the impact of COVID-19. Our case study hub page includes just some of the ways we're helping local businesses through this period and beyond.
1We're offering free banking and overdrafts to all our business customers with an annual turnover of up to £250k. After 12 June 2020, your normal charges and fees will apply. We'll debit these from your account from August 2020.
2 Lines are open Monday to Friday, 8am to 8pm (except bank holidays). Calls to 0800 numbers are free from a UK landline and international calls are charged at local rate, mobile costs may vary - please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes.
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Barclays plc published this content on 11 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2021 11:09:08 UTC
