The Government has announced over £300 billion in funding to help small businesses survive COVID-19. In this post, we have included all the financial support for small businesses available from the Government and how to apply.
Bounce Back Loan Scheme (BBLS)
The Bounce Back Loan Scheme is open to the UK’s smallest small businesses who will be able to borrow between £2,000-£50,000 as of 4th May. The Government will provide lenders with a 100% guarantee and there will be no fees for small businesses for the first 12 months and no repayments will be due during this period either. Small businesses can apply quickly and easily by answering seven questions and the cash should be in accounts within days. You can find out which lenders are offering the scheme.