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Bounce back loans


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HOW IT WORKS

BBLS is available through a range of British Business Bank accredited lenders and partners, listed on the British Business Bank website.

A lender can provide a six-year term loan from £2,000 up to 25% of a business’ turnover. The maximum loan amount is £50,000.

The scheme gives the lender a full (100%) government-backed guarantee against the outstanding balance of the facility (both capital and interest).

The borrower always remains fully liable for the debt.

KEY FEATURES OF THE SCHEME

Finance of up to £50,000 Guarantee to the lender to encourage them to lend Government pays interest and fees for 12 months Affordable interest rate
Loans range from £2,000 up to 25% of a business’ turnover. The maximum loan amount is £50,000. The scheme provides the lender with a full (100%), government-backed guarantee against the outstanding balance of the finance (both capital and interest).

The borrower remains 100% liable for the debt.
The Government will make a Business Interruption Payment (BIP) to cover the first 12 months of interest payments.

The borrower does not have to make any repayments for the first 12 months.
The interest rate for the facility is set at 2.5% per annum, meaning businesses will all benefit from the same, affordable rate of interest
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