Bounce Back Loans available from 4 May 2020

Good news for many micro and small businesses. New simple to apply for Bounce Back loans will be available from 4 May 2020.

- Any small business can apply for loans worth up to 25% of business turnover but for a maximum of £50,000

- 100% government guaranteed

- Simple online application promised

Note: Businesses can not apply for both Bounce Back Loans and CBILS.

If you have already received CBILS loan (upto £50K) you can transfer to Bounce Back loan before 4 November 2020

The detailed guidance is HERE.

Any questions, please let us know.

The information provided in this article is not intended to constitute legal, accountancy or financial advice. You should take independent legal, accountancy or financial advice before relying on the information in this article or before decisions are made or before you embark on any course of action.

Irina Inayat

Penn Accounts

0207 183 6623

#PennAccounts #PennGroup #IrinaInayat #CBILS #BounceBackLoan #Covid19support #Covid19 #accountingtips #accounting #guaranteedloan

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