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Government’s bounce back loan scheme now open

The Government’s new bounce back scheme, offering 100% taxpayer-backed loans for the UK’s smallest businesses, is now open.

Chancellor of the Exchequer Rishi Sunak announced the scheme last week. The scheme officially opened this morning and offers firms loans of up to £50,000 within days of applying.

To access the loans – free of capital or interest repayments for one year – customers will be required to fill in a two-page self certification form online.

The move follows widespread criticism of the Government’s Coronavirus Business Interruption Loan Scheme (CBILS), which many businesses have reported being difficult to access.  Businesses who have accessed the a CBILS for £500,00 on less can convert to a bounce back loan.

Apply for a bounce back loan now

Unsure of what support is available to you? Visit the Government’s new business support finder.

For all the latest updates, visit Bira’s Coronavirus hub
Coronavirus hub