Saint & Co have learnt from Barclays Bank, Lloyds Bank and Cumbria Chamber of Commerce, of the support measures they have put in place to help their customers affected by flooding and adverse weather.
Barclays Bank Customers
Barclays Bank have outlined the help they are offering for business and personal customers, home insurance customers, mortgage holders and agricultural customers:
“Barclays will help Business customers depending upon the individual circumstances with overdraft increases or if required, capital repayment holidays of up to six months on customers’ existing loans. This will allow businesses time to recover from the immediate impact of the damage caused by flooding or adverse weather, or to bridge the gap until insurance claims are settled.
Affected Barclays customers should call their business manager directly on 0345 605 2345 to discuss their individual circumstances. Barclays business managers will be contacting customers in at risk areas to assess any damage or disruption caused to their businesses and offer solutions that may ease the burden on cash flow”
“Barclays Personal customers with an overdraft may, depending upon the individual circumstances, be eligible for a temporary increase to help with emergency bills. Customers without an overdraft can also apply for an emergency overdraft.
Barclays Personal customers can call 0345 7 345 345 to discuss their circumstances. Our representatives will provide assistance to those impacted by flooding or adverse weather”
There is help for Barclays Home Insurance customers and Barclays mortgage holders:
“Barclays Home Insurance customers affected by floods or adverse weather and who can no longer live in their home may be eligible to receive support to find temporary accommodation. Barclays can arrange for emergency payments to replace essential items where appropriate.
Barclays Home Insurance customers can call the dedicated helpline on 0800 027 9844 to make a claim”
Barclays mortgage holders should contact 0800 022 4022 to discuss their individual circumstances at the earliest possible time so that we may offer the appropriate solution to their needs.
If you are a Barclays Agricultural customer, Barclays have said that their Barclays Agricultural Managers will work closely with farmers impacted by the adverse weather conditions to understand their individual circumstances.
Barclays Agriculture can offer, depending upon individual circumstances, capital repayment holiday of up to twelve months on mortgages and loans, in order to ease cash flow problems of affected customers over the coming months. Barclays can help to extend or increase existing overdrafts, increasing working capital available to help cover increased costs caused by the adverse weather conditions. We would encourage UK farmers that are experiencing difficulty from the adverse weather conditions to contact their own Barclays Agricultural Manager directly.
Lloyds Bank Customers
“Following the floods caused by Storm Desmond, Lloyds Banking Group has announced a £100m fund to waive arrangement fees on lending for businesses and farmers across affected regions, as part of a range of measures for small businesses affected by the floods. The fund was opened on 9 December 2015 and businesses can apply through Lloyds Banking Group’s network of Lloyds Bank and Bank of Scotland branches and business centres”.
“The fund is designed to support the working capital needs of small businesses and farmers in the affected areas and will allow them to apply for lending free of arrangement fees, to help with cashflow shortages caused by the floods. This support package will help businesses manage their way through the current conditions, for example by helping farmers fund food and shelter for livestock or small businesses to pay employees whilst they get their businesses up and running again”.
“The fund comes on the back of a £500m fund announced for farmers who have experienced a delay in their basic payments. Andrew Naylor, head of agriculture at Lloyds Bank Commercial Banking, said: “We know how critical it will be for farmers affected by the floods to receive support with their cashflow, to help them through interruptions to their business, or to provide additional working capital to repair damage caused by Storm Desmond. The measures launched today will ensure famers and small businesses have the financial support they need to get themselves back on track.”
This announcement is in addition to a range of support already being provided by the Group, for businesses and individuals across the affected regions. To support impacted personal customers the Group has been providing emergency payments and offering alternative accommodation where it is needed, as well as relocating specialist staff from other parts of the country. In addition, the Group’s General Insurance business has redeployed specialist staff and sent its emergency response unit to affected areas, to help customers with their insurance claims and to offer practical support on the ground.
Saint & Co suggest that Lloyds customers contact their dedicated manager for further information and advice.
Cumbria Chamber of Commerce
Cumbria Chamber of Commerce have launched a grant scheme for businesses affected by the floods. For further information and details of how to apply visit their Cumbria Growth Hub website.
When Saint & Co hear of any other support initiatives from any other bank or business support source, we will post the details on our website.