Bounce Back Loan | UK-wide

As part of the measures set out in the Winter Economy Plan, this scheme has been extended to 30 November 2020. Further guidance will be provided as soon as it becomes available.

Summary:

Government-backed loans for UK-based small and medium-sized businesses ranging from between £2,000 and £50,000.

Eligibility criteria:

You can apply for the Bounce Back Loan if your business:

  • is based in the UK
  • was established before 1 March 2020
  • has been negatively affected by coronavirus

If your business was classed as a business in difficulty on 31 December 2019 you’ll need to confirm that you’re complying with additional state aid restrictions.

The following businesses are not eligible to apply:

  • banks, insurers and reinsurers (but not insurance brokers)
  • public-sector bodies
  • state-funded primary and secondary schools
Additional information:

The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.

The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

Loan terms will be up to 6 years. No repayments will be due during the first 12 months.

If you’re already claiming funding

You cannot apply if you’re already claiming under:

If you’ve already received a loan of up to £50,000 under one of these you can transfer it into the Bounce Back Loan scheme. You have until 4 November 2020 to arrange this with your lender.

How to apply
The Bounce Back Loan scheme is open to applications - apply for a coronavirus Bounce Back Loan

Support organisation:
  • Accredited lenders
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