This brief update has been prepared for tenants who find themselves in arrears as The Commercial Rent (Coronavirus) Bill (the “Bill”), currently making its way through Parliament, will change the current situation regarding pandemic arrears and the ban on certain landlord remedies.
A combination of economic uncertainty, rising unemployment, changing consumer behaviour and national and regional “lock-downs” have exacerbated existing pressures often experienced by start-ups, including lack of funding. With thin balance sheets, cash flow challenges and (often) debt, many start-ups simply have less capital and resources to fall back on in time of crisis. There are, inevitably, risks of business failure.
Sally Johnston joins the Ignition Finance team to discuss the different loan funding options for SMEs affected by the Coronavirus pandemic.
A guide to the practical steps that borrowers can take when experiencing financial difficulties as a result of the COVID-19 pandemic.