Over 100,000 businesses have already applied for the Government's new Bounce Back Loans. If you need one apply here: Bounce Back Loan scheme.
- Small businesses ARE NOW able to apply for quick and easy-to-access loans
- Businesses will be able to borrow between £2,000 and £50,000 with the cash arriving within days, interest & fee free for a year and then fixed at 2.5% for the next five years with no repayments due during the first year.
- Loans are be 100% government backed for lenders, and businesses can apply online through a short and simple form with only seven questions.
Thousands of small firms and sole traders – including high street staples like hairdressers, coffee shops and florists – are eligible for 100% government-backed Bounce Back Loans to help them make it through the coronavirus outbreak.
Any business that has already taken out a Coronavirus Business Interruption Loan of £50,000 or less can apply to have these switched over to this generous new scheme.
If you're applying for one of these loans with a new bank then you may need to set up an account with them.
The Bounce Back Loan scheme is the latest step in a package of world-leading support measures launched by Chancellor Rishi Sunak – with £7.5 billion already awarded in business grants, 4 million jobs supported through the job retention scheme and generous tax deferrals supporting hundreds of thousands of firms.
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