Bounce Back Loan Scheme
Borrow from £2,000 up to £50,000
(up to a maximum of 25% of your turnover)
Fixed 6 year loan term, with no early repayment fees if you wish to repay the loan early
12 month capital repayment holiday is automatically applied at the start of the loan (this may mean you pay more interest over the term).
Interest for the first 12 months is paid by the government, and then by you for the remainder of the loan term
If you have borrowed less than 25% of the annual turnover you stated on your original Bounce Back Loan application form, you are eligible to apply for a Top-Up. The combined value of your original loan and Top-up cannot exceed 25% of your originally stated turnover, and is subject to an overall cap of £50,000. You may only apply for a Top-Up once
Specific eligibility criteria applies