Bounce Back Loans scheme
Small businesses will benefit from a new fast-track finance scheme.
28 April 2020
Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders, the Chancellor announced yesterday (Monday 27 April).
Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would 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.