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The Bounce back loan was introduced by the British government in response to the coronavirus pandemic, all application must be made by 31st March 2021.

The CBILS loan and bounce back loans were introduced by the government in response to the coronavirus pandemic.

The Bounce back scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover.

The maximum loan available is £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.