How we're supporting you financially.
We understand our customers may be worried about the impact of coronavirus (COVID-19) and wanted to reassure you that we’re here to help you with any financial concerns you may have. If you are worried about your financial situation, please get in touch. The earlier you talk to us, the sooner we can help.
Coronavirus Business Interruption Loan Scheme (CBILS)
We will be participating in the Coronavirus Business Interruption Loans Scheme. We’re currently working on implementing this and will have more information soon. If you need immediate support we are offering alternative solutions including extending overdraft facilities or refinancing existing lending.
If you are worried about a financial impact on your business, please get in touch
We have a range of options in place that could help, depending on your circumstances, including:
Overdrafts (subject to status) – an overdraft could help you manage your cash flow. If you have an existing one, we could consider increasing your credit limit.
Term Loans (subject to status) - we can offer repayment holidays for new loans. Just remember if you take a repayment holiday you will pay more interest overall. If you are worried about meeting payments on an existing loan, please get in touch.
We can waive our standard arrangement fee on overdrafts, term loans and any credit limit increases or renewals if your business is impacted by Coronavirus.
If you are in financial difficulty, we can offer bespoke support in helping you manage your debt.
The government has announced a range of measures to help support businesses through this period.
Some of these measures include:
Small business grant funding of £10,000 for all business in receipt of small business rate relief or rural rate relief.
Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000
Income support for self-employed individuals.
For more information on what this means for your business please visit the government website.
We’re here to help
At TSB, we are committed to supporting local businesses through this period of uncertainty.
2. Phone support for those most in need. If you're unable to find a solution online, you feel vulnerable or are in a situation where you need help today, then please do allow us extra time to answer when you contact us.
3. We are providing essential services only in branches at the moment. We’re keeping some of our branches open with reduced hours to help with essential banking needs. These include:
Help if you’re in need of additional support or are facing financial difficulty
Paying in for cash or cheques
Taking out cash over the counter or from an ATM
Banks and building societies, just like retailers, are following the government’s guidance and introducing social distancing in our branches and at ATMs. Please do not visit one of our branches unless absolutely necessary.
4. Support from friends or family. If you don’t have access to digital devices and are worried about not being able to access a branch, please call your branch and they’ll talk you through the process of setting up access for your friends or family.
Minimise cash handling with contactless and remote payments.
Square offer a free card reader to TSB business customers and no fees on your first £1,000 of transactions. Visit tsb.co.uk/square to find out more and apply.