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Bounce back loan scheme

Written by: Mettle editorial
1 min read

The ‘bounce back’ loan scheme available from today, 4 May, allows small and medium sized businesses negatively affected by the Coronavirus to borrow between £2,000 and £50,000.

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The Chancellor has announced a new fast-tracked loan scheme to support small businesses.

You can apply online through a one-page form. Unlike previous schemes, there are no viability tests required. Once you’re approved, you should be able to access money within days.

These loans are interest free for 12 months with no repayments due during this period.

The government will provide lenders with a 100% guarantee for the loan and cover all fees and interest for 12 months.

Who’s eligible?

You can apply for a loan if you're a UK-based company that has been negatively affected by the coronavirus. 

You’re not eligible if you’re already claiming under the Coronavirus Business Loan Interruption Scheme.

Please note that Mettle is not an accredited lender. Learn more about how to apply on the British Business Bank website.

The Bounce Back Loan Scheme

Coronavirus Business Loan Interruption Scheme

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At Mettle, our aim is to give everyone the financial confidence to work for themselves, and that’s no different with our content. We want to give small business owners, freelancers and sole traders the tips, tricks and industry updates they need to run their businesses. 

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