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Helping hand from Nuneaton and Bedworth Borough Council helps borough businesses during pandemic

Published on Monday, 8th February 2021

Borough Council gives Covid-19 hit businesses a lifeline.

Essential financial support from Nuneaton and Bedworth Borough Council has helped businesses and helped protect jobs during the CoVID-19 Pandemic.

The authority provided £250,000 to Coventry and Warwickshire Reinvestment Trust (CWRT) to on-lend to businesses under the Government-backed Coronavirus Business Interruption Scheme (CBILS) with CWRT one of the accredited lenders for the scheme.

Sheridan Sulskis, Executive Director at the CWRT, said: “Nuneaton and Bedworth Borough Council, together with CWRT, has responded to the needs of small business owners in the Nuneaton and Bedworth quickly which has had a direct, positive impact for companies in the area.

“Many businesses are facing a bleak future through no fault of their own, but by making this funding available, our collaborative interventions during these unprecedented times, have facilitated the survival of local businesses, protected 20 local jobs and created 14 new employment opportunities within the Nuneaton and Bedworth region.

“Together we are helping to create an environment for individuals and businesses to better position themselves to generate opportunities and withstand the impact of economic shocks by becoming more economically resilient.”

Cllr Julie Jackson, Leader of Nuneaton and Bedworth Borough Council, said: “We realise a large number of businesses are finding it increasingly hard during this pandemic and the current lockdown.

“So we were delighted to be able to provide a financial package to be administered to local businesses with the help of Coventry and Warwickshire Reinvestment Trust.

“We would also like to remind borough businesses that there are grants available to help them, it is not too late to apply so please take a look now.’’

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS).

Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS

Nuneaton and Bedworth Borough Council has a package of business support grants available to help businesses during the pandemic, for details and eligibility criteria go to https://www.nuneatonandbedworth.gov.uk/coronavirus-business