Small businesses boosted by bounce back loans
Updated 28th April 2020
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.