Bounce Back Loan Scheme: Difference between revisions
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imported>Doug Williamson (Add alternative abbreviation, source: Bank of England https://www.bankofengland.co.uk/-/media/boe/files/speech/2020/covid-19-and-monetary-policy-speech-by-michael-saunders.pdf?la=en&hash=02111FB09D7C30180137C228BB61E8C5447A84F9) |
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*[[Financial stability]] | *[[Financial stability]] | ||
*[[Liquidity management]] | *[[Liquidity management]] | ||
*[[Recovery Loan Scheme]] | |||
*[[Stranded middle]] | *[[Stranded middle]] | ||
*[[WFH]] | *[[WFH]] | ||
Revision as of 23:26, 10 March 2021
COVID-19 - business continuity - UK.
(BBLS or BBL).
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.
See also
- British Business Bank
- Business continuity plan
- Contingency plan
- COPD
- Coronavirus
- Coronavirus Business Interruption Loan Scheme
- Coronavirus Job Retention Scheme
- Coronavirus Large Business Interruption Loan Scheme
- COVID-19
- COVID-19 Corporate Financing Facility
- Disaster recovery planning
- Financial stability
- Liquidity management
- Recovery Loan Scheme
- Stranded middle
- WFH
