Bounce Back Loan Scheme
Date Posted: May 4, 2020
The government has announced further details on “The Bounce Back Loan scheme” to help small and medium sized businesses. Key points are as follows:
- The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000;
- The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months; and
- Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan
Further details and information on how to apply can be found here – https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
