new government backed Bounce Back Loans Scheme is now open
scheme allows small and medium-sized businesses to borrow between £2,000 and
£50,000 and access the cash within days.
Loans will be interest free for the first 12 months and businesses can apply online through a short and simple form.
The Government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. No repayments will be due during the first 12 months. Loans should reach businesses within days – providing immediate support to those that need it as easily as possible.
This new scheme runs alongside the existing Business Interruption Loan Scheme (CBILS) and Large Business Interruption Loan Scheme (CLBILS).
Update on the Self-Employment Income Support Scheme
This week HMRC will begin the process of contacting customers who may be eligible to apply for the Self-Employment Income Support Scheme.
Use the Support Finder tool to find out if you can make a claim.