We’d hoped that the Government would help small businesses get finance more easily during the crisis and the new Coronavirus Bounce Bank loans that were announced today sound a good option to access finance..
These launch on the 4th May and in summary:
- Between £2k and £50k is available
- The government guarantee 100% of the loan
- No fees or interest for the first 12 months
- Up to 6 year term and no repayments in the first 12 months
Government will work with lenders to endure that the interest rate is low
More details are here: New Coronavirus Bounce Bank Loans