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Latest updates from Government on coronavirus business support

Here are the latest updates on Coronavirus business support:

The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme from £50 million to £200 million.

Loans under the expanded scheme will be made available to large businesses affected by coronavirus from next week.

Changes also mean companies receiving help through CLBILS and the Bank of England’s Coronavirus Corporate Financing Fund will be asked to agree to not pay dividends and to exercise restraint on senior pay

 

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay (SSP) paid to current or former employees.

The repayment will cover up to 2 weeks starting from the first qualifying day of sickness, if an employee is unable to work because they either:
– Have coronavirus (COVID-19) symptoms;
– Cannot work because they are self-isolating because someone they live with has symptoms; or
– Are shielding and have a letter from the NHS or a GP telling them to stay at home for at least 12 weeks.

 

Eligibility details for the Future Fund, which was set up to provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors, have been updated.

Please note that applications for the Fund open today, Wednesday 20 May.

 

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      David Ralph

      Chief Executive

      David Ralph started as Chief Executive of Heart of South West LEP at the beginning of June 2018. Previously, he had spent 5 years as CEO of the Derby, Derbyshire, Nottingham, Nottinghamshire (D2N2) LEP from 2013 where he oversaw the development of the D2N2 Strategic Economic Plan and sector strategies, 3 Growth Deals with HM Government to deliver a £1billion capital investment programme, securing and implementing £200m ESIF programme, the Derby and Nottingham Enterprise Zone, the D2N2 Skills Deal and Time for Innovation programme, community fund and led the executive team to develop the HS2 East Midlands hub. He was also closely involved in the proposed North Midlands Devolution Deal and one of the key architects in establishing the Midlands Engine, chairing the officer steering group. Whilst in this role David was a NED of the Nottingham Enterprise Zone, and Marketing NG, the Outer Estates Foundation and a Governor of Nottingham College and on the advisory Board of Nottingham Business School.

      Before the East Midlands, David was CEO of the Have Gateway Partnership working closely with local stakeholders including the ports of Felixstowe, Harwich and Ipswich and BT Adadastral Park across Suffolk and Essex and prior to that was Chief Exec of the Barton Hill New Deal for Communities programme in Bristol and the Nelm Development Trust in Norwich.

      David is a keen sailor, walker and trail runner.