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Gov Bounce Back Loan scheme open

From today you can apply for a Government backed Bounce Back Loan, launched in a bid to help more small businesses get through the coronavirus crisis.

The scheme, which offers loans via banks of between £2,000 to £50,000, is 100% guaranteed by the government.

The money is interest and payment free for the first year – with rates of 2.5% per annum after the first 12 months.

Applying for the loan is very simple, as the online form has just seven questions.

Banks handling the loans (the majority of banks in the UK) will not be required to run credit checks or assess the long-term viability of applicants.

Advice is to contact your bank for details.

Gov Bounce Back Loan scheme open

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