Small Business Bounce Back Loans

Claims under the Coronavirus Job Retention Scheme (CJRS) Rates Holiday & Grants; Furlough Extension; Economic Picture; CBILS; Self Employed
April 18, 2020
Tentative Plan
April 29, 2020

Small Business Bounce Back Loans

Rishi Sunak has today announced details of a new 100% government backed loan scheme where small businesses will be able to borrow between £2,000 and £50,000 interest free for the first 12 months.

Small Business Bounce Back Loans

  • Application via short and simple standardised form online
  • 100% government-backed guarantee for lenders
  • Designed for small firms who need vital cash injections
  • The government will pay any fees and interest for the first 12 months
  • No repayments will be due during the first 12 months
  • The loan should reach businesses within days
  • Applications available on Monday 4 May
  • Loans available through a network of accredited lenders.
  • Speed advance of funds with a low standardised level of interest for the remaining loan period.

Stay safe and well.

Kindest regards to you.

David Prince FCCA