The Government backed Bounce Back Loan scheme has been extended until 31 March 2021.
The Bounce Back Loan Scheme (BBLS) provides financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak and can benefit from £50,000 or less in finance.
BBLS is available through a range of British Business Bank accredited lenders and partners.
A lender can provide a six-year term loan from £2,000 up to 25% of a business’ turnover. The maximum loan amount is £50,000.
The scheme gives the lender a full (100%) government-backed guarantee against the outstanding balance of the facility (both capital and interest).
If you haven't applied and your business needs a financial boost before the end of the tax year, this is an easy way to provide a quick cash injection.
If you need any further information contact us for a FREE NO OBLIGATION conversation to see how we can help.