Bounce Back Loan scheme

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Supporting small and medium-sized businesses during coronavirus

This scheme will help small and medium-sized businesses affected by coronavirus (COVID-19) to apply for loans of up to £50,000

This scheme isn’t available yet and will launch on 4 May 2020.

Loans between £2,000 and £50,000

The Bounce Back Loan scheme is designed to support small and medium-sized businesses looking to borrow between £2,000 and £50,000.

Flexible terms available

Loan terms will be up to 6 years.

100% government backed

The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

Is your business eligible?

You can apply for a loan if your business

  • Is based in the UK
  • Has been negatively affected by coronavirus
  • Wasn’t an ‘undertaking in difficulty’1 on 31 December 2019

Ineligible businesses

The following businesses aren’t eligible to apply

  • Banks, insurers and reinsurers (but not insurance brokers)
  • Public-sector bodies
  • Further-education establishments, if they are grant-funded
  • State-funded primary and secondary schools

Important information

You can’t apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).

If you’ve already received a loan of up to £50,000 under CBILS and would like to transfer it into the Bounce Back Loan scheme, you can arrange this with your lender until 4 November 2020. We’ll share more details about this as they become available, so please keep checking for more information.

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