‘We help our members grow through a variety of networking opportunities.’

COVID-19 UPDATE: Monday 6th April 2020 (Issue No.14)

In this update, I have provided some further information on the Job Retention Scheme and the Coronavirus Business Interruption Loan Scheme.

Newry Chamber continues to lobby on behalf of our members across a range of issues.

Today, along with a number of other Chambers and Enterprise NI, I have written to the Economy, Finance and Communities Ministers about gaps in the Small Business Support Grant Scheme for £10,000.

You can read the full letter here.

I intend to follow up with discussions later in the week and will keep you advised.

I hope you find these updates of value. If you have any queries which you can’t get answered, let us know. If I can, I will cover them in our next update.

Monitor our social media channels and check your email inbox for regular updates.

You can contact me at:

Stay safe.

Colm Shannon,
Chief Executive Officer
Newry Chamber of Commerce & Trade


At the weekend, HMRC published further details on the Job Retention Scheme, in terms of eligibility and how it will work.

If you plan to or have put your workers on ‘Furlough’, it is important you read their guidance.

They still haven’t published information on how applications will be processed.

Further information is expected later this month.

You can view the revised guidance here.


The Chancellor has announced further changes to the Coronavirus Business Interruption Loan Scheme.

The key changes include:

  • Applications will not be limited to businesses that have been refused a loan on commercial terms, extending the number who benefit. The Treasury has not capped the interest rates banks can charge;
  • Banks won’t ask company owners to guarantee loans with their own savings or property when borrowing up to £250,000; and
  • Larger firms with a turnover of up to £500m will also be eligible for more help, with state-backed loans of up to £25m available to firms with revenues of between £45m-£500m.

Locally, Danske Bank, Ulster Bank, Bank of Ireland are accredited to the scheme and AIB have applied to be accredited.

A full list of accredited financial institutions is available on the CBILS website.

Full info on the Business Interruption Loan Scheme for Small Businesses is available here.

Full info on the Business Interruption Loan Scheme for Large Businesses is available here.


This financing facility for larger companies is separate from the Business Interruption Loan Scheme.

It is delivered through commercial lenders backed by the Bank of England.

Information on the financing facility can be found here.