New Bounce Back Loans for Small Businesses

The Chancellor, Rishi Sunak, has announced the following extra support for UK businesses:

1. Loans worth 25% of turnover, up to £50,000

2. Government paying interest for the first 12 months

3. 100% government guaranteed

4. No red tape or test of viability

5. Available from next Monday

6. Paid within 24 hours of approval

If you have found it difficult to get a loan up to now, this additional support could help you and I encourage you to approach your lender again.

More details can be found here - https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans