Coronavirus support
If you're worried about the impact of coronavirus on you or your business, we want to reassure you that we're here to help.
If your business is experiencing difficulties due to the coronavirus pandemic, we have some options that may help. We’ll keep this page up to date as the situation changes.
Remember, you can still do your day-to-day business banking online - move money, check balances and make payments to suppliers.
Government backed support available
We are participating in Government backed loan schemes. Here are the options available at the moment.
Pay As You Grow (PAYG)
- Available to existing Bounce Back Loan customers only
- Explore options for 6 months interest only, 6 months payment holiday and term extension to 10 years
- Options can be used individually or in combination throughout the life of the loan
Recovery Loan Scheme
- Minimum loan size £25,001
- Borrow up to £2 million on a term loan
- Borrowers with an existing BBLS, CBILS or CLBILS facility can apply
- Full application required
- Standard credit assessment applies to your loan request
- Interest due from commencement of the loan at a commercial rate
- Subject to status and eligibility. Security may be required.
The Government is also offering a wide range of support for businesses in response to the coronavirus outbreak. This includes schemes to help employers fund staff salaries and options for the self-employed. You can find the most up to date information on the Government’s website.
Government backed loan schemes we’ve participated in
During the coronavirus pandemic, we’ve supported businesses through a number of Government backed loan schemes. If you’ve taken advantage of one of these schemes and need to check the details, you can find the information here:
Bounce Back Loan Scheme (BBLS)
Bounce Back Loan Scheme Top Up
Coronavirus Business Interruption Loans Scheme (CBILS)
Coronavirus Large Business Interruption Loan Scheme (CLBILS)
Frequently asked questions
See the answers to the questions we get asked most
Stay safe and secure
When things are uncertain and constantly changing, as they are now, it's more important than ever to take care of your personal information. Unfortunately criminals might try to take advantage of the situation to collect confidential information and commit fraud.
Watch out for unexpected text messages, emails or phone calls claiming to be from travel companies, airlines, financial institutions or even the NHS. Any message that requests personal information should be treated with suspicion, as genuine organisations are unlikely to do this.
If you’re unsure don’t hand over any personal details or click on links in texts and emails. If you do receive a suspicious message or phone call, don’t respond on the spot. Instead contact the company yourself using a number you can trust.
Confirm urgent payment requests or changes to supplier payments directly with the sender using a trusted phone number and where possible send a confirmation of payment to suppliers once their invoice has been paid.
Follow the advice of the Take Five to Stop Fraud campaign, and remember that criminals are experts at impersonating people, organisations and the police. Your bank or police will never contact you out of the red to ask for your PIN, full password or to move money to another account. The Take Five to Stop Fraud campaign encourages you to:
- Stop: Taking a moment to stop and think before parting with your money or information could keep you safe.
- Challenge: Could it be fake? It’s ok to reject, refuse or ignore any requests. Only criminals will try to rush or panic you.
- Protect: Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.
Criminals have already started using a number of new tactics and schemes to target people in the wake of COVID-19, with some recently reported including:
- Emails offering fake medical support and the sale of medical supplies such as face masks, hand sanitizer and other products which will never arrive
- Emails, texts and calls using NHS branding or messaging, requesting donations
- Emails, texts and calls employing HMRC branding or messaging, asking for details, to offer pay-outs and financial support
- Emails outlining new ‘too good to be true’ investment opportunities around healthcare companies
For more information on how to protect yourself from fraud and scams visit our security centre.
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.