Small businesses boosted by bounce back loans

Rishi Sunak has announced a new “micro-loan scheme” under which companies will be able to borrow between £2,000 and £50,000 with the government underwriting the entire loan.

 

The loans will be free of interest, fees and payments for 12 months, the government said. Mr Sunak said the loans would be available from 9am next Monday with companies asked to fill in a “quick standard form” – with the first loans likely to arrive within 24 hours.

 

More details to follow.

 

https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans

 

If you have concerns or questions, please contact us on 01932 830664 or through your usual client partner contact. As further details are announced, we will keep you informed.

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About the author

Richard Hayward is a WardWilliams partner who advise clients of the latest rules and regulations.