New Bounce Back Loans to launch today

Bounce Back loans launch

Britain’s small businesses will be able to apply for quick and easy-to access loans of up to £50,000 from today 4th May 9am.

Thousands of small firms and sole traders – including high street staples like hairdressers, coffee shops and florists – will be eligible for 100% government-backed Bounce Back Loans to help ensure they can continue to trade, and be a key part of efforts to reboot the British economy.

Features include

  • businesses will be able to borrow between £2,000 and £50,000 with the cash arriving within days
  • loans will be 100% government backed for lenders, and businesses can apply online through a short and simple form, with 7 questions
  • Affordable flat rate of 2.5% interest

The loans are available through a network of lenders, including the five largest banks.

Read more at GOV.UK

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Posted on: Monday 4th May 2020