The Federation of Small Businesses (FSB) has opened its £500,000 Disaster Recovery Fund for its members in Scotland, Lancashire and Cumbria and the North East of England, which have been adversely affected by recent heavy rain and flooding.

The FSB is offering interest-free loans of up to £5,000 to help small firms cover costs associated with keeping their business trading and with repair of their premises.

John Wright, national chairman of the Federation of Small Businesses said: “The last 18 months have been difficult for FSB members up and down the country, so the last thing otherwise successful FSB members need is unpredictable weather and flooding to damage their prospects. The FSB recognises that to ensure that the long-term damage to the areas affected is mitigated as best it can, all bodies, public and private, need to work together closely and effectively.

“That is why the FSB is stepping in and providing this additional service for its membership in the affected areas.

“We are also asking other institutions which have a bearing on local small firms’ cash-flow – such as banks, local authorities and Regional Development Agencies – to reassure our members that they will be as understanding and flexible as possible.”

Related Articles:

1. Insurance vital for home-based businesses
2. Regulation freeze ‘will save 300,000 jobs’
3. Small businesses feel the pinch as banks raise rates
4. Go-between needed to reconnect banks and business
5. Businesses ‘must keep flood risks in mind’