Bounce Back Loan Scheme: Difference between revisions

Revision as of 12:09, 13 May 2020

COVID-19 - business continuity - UK.

(BBLS).

The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak.

The BBLS helps small and medium-sized businesses to borrow between £2,000 and a maximum of 25% of their annual turnover.

The maximum loan available is £50,000.

The UK government guarantees 100% of the loan.

There are no fees or interest to pay for the first 12 months.

After 12 months the interest rate will be 2.5% a year.

Businesses can apply for a loan if they satisfy three conditions:

(1) Based in the UK;

(2) Established before 1 March 2020; and

(3) Adversely impacted by the coronavirus.

@@ Line 20: / Line 20: @@
 Businesses can apply for a loan if they satisfy three conditions:
-(1) Based in the UK
+(1) Based in the UK;
-(2) Established before 1 March 2020
+(2) Established before 1 March 2020; and
 (3) Adversely impacted by the coronavirus.