Coronavirus Bounce Bank Loans open to applications until 31 March 2021

The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

The scheme is open to applications until 31 March 2021.

If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 January 2021.

See: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan?utm_source=c7cea23d-a8b9-43df-a18c-104d4423f70c&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate

Take care, stay safe.

#TeamWaltons