Coronavirus Bounce Back Loan
The Bounce Back Loan Scheme (BBLS) opens for applications today (May 4 2020). The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000.
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).