Financial support for flood-hit firms
PLEDGES of financial help for flood victims have continued, with both the Northwest Regional Development Agency and banking giant Barclays revealing support packages for businesses.
Scores of firms, particularly in Cumbria, have been affected by the problem and the NWDA has today confirmed it will make up to £1m available to small businesses.
Chief executive Steven Broomhead said: “We know that there will undoubtedly be a severe impact on businesses in some parts of Cumbria and it is crucial that funding is made available to those businesses in urgent need.
He added: “Any businesses in need of support should contact our Business Link Northwest service which is geared-up to provide frontline advice to businesses that are dealing with the effects of flooding.”
The development agency said it has been working closely with Cumbria County Council, Cumbria Chamber of Commerce and Government Office North West to assist businesses hit by the flooding.
Meanwhile, Barclays has revealed a package of measures to help North West businesses hit by floods.
Barclays said its help would allow businesses time to recover from the immediate impact of the flooding, or to bridge the gap until insurance claims are settled.
Subject to conditions being met, the measures include repayment holidays on existing and new loans, and extending overdraft facilities.
Robert Maclachlan, regional director for Barclays in the North West: “Events such as these can have a devastating effect on business continuity and at Barclays we are committed to helping our customers through these difficult times.
“Our customers should contact their relationship manager as soon as they can to discuss how we might support them with concrete measures that meet their needs and help ease the pain a little.”
In addition, Barclays will also offer a £25,000 community support fund for relief for those worst affected across the Cumbrian area. The fund will be open to all registered charities and not for profit community groups.
