The Coronavirus Bounce Back Loan Scheme (CBBLS) has been launched today to help businesses impacted by Covid-19 and the subsequent lock-down that’s been in place since March 23rd. The scheme is available though a number of High Street Banks, is 100% underwritten by the Government, free of interest for the first 12 months with a low follow on rate of 2.5% being charged thereafter. Importantly, it’s a simplified application process with minimal underwriting.
Loans of £2,000 – £50,000 can be applied for, up to a maximum of 25% of turnover. No early repayment penalties apply, giving businesses the ability to repay at any point.
To see if your business is eligible click on the following link for more information. https://bit.ly/CBBLScheme
For further information on the schemes and support available to you and your business, check out the UK governments dedicated web pages;
We continuing to help individuals and businesses through these troubling times and can be contacted on 01132 555762 or via our website at www.brookefinancial.co.uk