Update on support for businesses -
The Bounce Back Loan Scheme
- The Bounce Back Loan Scheme is available for businesses who want to borrow between £2,000 and £50,000, and the majority will receive the money within a matter of days.
- Loans have a fixed term of 6 years with a flat interest rate of 2.5%.
- The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
- Small businesses can apply for one of these loans on our website.
Alongside this scheme we also have a broader range of financial support options for businesses, including payment holidays, the Coronavirus Business Interruption Loan Scheme (CBILS) and other alternative sources of finance. More information on the full range of support available to businesses can be found on the Coronavirus section of our website.
