13th Aug, 2020

Bounce back loans available to small businesses in Malvern

Ross Crawford 17th May, 2020 Updated: 18th May, 2020

SMALL businesses in Bromsgrove and Droitwich can now benefit from a new fast-track finance scheme providing loans with a 100 per cent government-backed guarantee for lenders.

The new Bounce Back Loans scheme, which will provide loans of up to £50,000, helps bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.

It means as of this week small business owners can apply to accredited lenders by filling out a simple online form.

This latest scheme follows a raft of measures to support small businesses.

The Bounce Back Loans scheme has been designed to ensure small firms who need cash injections to keep operating can get finance in a matter of days.

Central government will provide lenders with a 100 per cent guarantee for the loan and pay any fees and interest for the first 12 months during which no repayments.

The loans are available through a network of lenders, including the five largest banks.

Click here for more information on Bounce Back Loans.

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