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Reminder: Small business to apply for a Bounce Back Loan

Published on: 06 May 2020

Bounce Back Loan

Earlier this week the new ‘Bounce Back’ loan scheme for small business went live. The scheme is intended to help small businesses which require additional finance during the COVID-19 pandemic. 

These loans, which are available through accredited lenders:

  • Provide loans of between £2,000 and £50,000
  • Are interest free for the first 12 months

Businesses will receive these loans within a matter of days. 

British Marine also understands that businesses which have already taken out a loan of up to £50,000 under the Coronavirus Business Interruption Loan Scheme can switch onto this scheme if they would like to do so.

For more detailed guidance on the Bounce Back Loans and details of how to apply can be found here. 

For members wishing to stay up-to-date with the latest developments on COVID-19, please visit our dedicated Coronavirus Hub.