Source: UK Government
Letter from the Chancellor to lenders on the new Bounce Back Loan Scheme
PDF, 72.3KB, 3 pages
On Monday 27 April the Chancellor announced the new Bounce Back Loan Scheme (BBLS) to support loans of up to £50,000 to small businesses with a 100% government-backed guarantee for lenders. This letter to all accredited lenders under the Coronavirus Business Interruption Loan Scheme (CBILS) sets out the interest rate that Bounce Back Loans will be offered at, and outlines legislative and regulatory changes being made to support the delivery of the scheme. It also clarifies the interaction between lending under BBLS and CBILS.
Published 1 May 2020