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Coronavirus Bounce Back Loan - Applications start today

he 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. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.


The scheme will be delivered through a network of accredited lenders.


Eligibility

You can apply for a loan if your business:

  • is based in the UK

  • has been negatively affected by coronavirus

  • was not an ‘undertaking in difficulty’ on 31 December 2019


Who cannot apply

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


If you’re already claiming funding

You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).


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


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Terms of Business

Jon Shatford Consulting & BookKeeping

Sarum Way, Hungerford RG17 0LJ

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