100% Bounce Back Loans


  • A NEW 100% government backed fast track loan scheme for small businesses was announced on 28 April.

Chancellor Rishi Sunak said the new Bounce Back Loans scheme, will provide loans up to £50,000, to help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.

  • Businesses will be able to borrow between £2,000 and £50,000 and access the cash within days.
  • Loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form.
  • Loan terms will be up to six years.

The scheme launched for applications on Monday 4 May. Businesses will be able to access these loans through a network of accredited lenders and the government will work with lenders to ensure loans through this scheme are advanced as quickly as possible and agree a low standardised level of interest for the remaining period of the loan.

You can apply for a loan if your business:

  • is based in the UK
  • has been negatively affected by coronavirus
  • was not an ‘undertaking in difficulty’ on 31 December 2019.

Businesses are not eligible to apply if they are already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).


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