Bounce Back Loans
are aimed at the UK’s smallest businesses and will provide them access to loans of up to 25% of their turnover (a max. of £50,000) within 24 hours of applying.
4 May 2020
The new Bounce Back Loans will be 100% guaranteed by the Treasury, meaning the government will take on all the default risk. They will be available from Monday 4th May at 9am.
- Maximum loan amount of 25% of turnover or £50k, whichever is lower
- No repayments are required for the first 12 months
- No requirement for bank eligibility
- Simple 2 page on-line application form
- 100% government guarantee
- Available from 9am on Monday 4th May 2020
- Loans will then be available within 24 hrs of approval