The Bounce Back Loan Scheme, launched today, has been designed to ensure our smallest businesses can receive the support they need to weather this crisis.
The scheme provides loans of up to a maximum of £50,000, or 25% of turnover. The government will guarantee 100% of these loans and will pay all fees and interest for the first 12 months, there will be no repayments for 12 months.
Applications will open on the 4th of May and the capital will begin to reach businesses within days.
For more information please see here - https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans