Bounce Back Loans - 100% Government Backed Loans Available

Today the Chancellor Rishi Sunak announced that small firms are to get access to 100% government backed loans up to £50,000 within days of applying for them. 

This has come due to a back lash of criticism that big banks are not doing enough to support businesses and are making the accessing of CBILS loans difficult. 

The announcement aims to unlock a backlog of credit checks by banks due to fears that many small businesses could fold before getting loans through. 

I think this is a great move by the government and once again shows their commitment to keeping our economy alive through this extremely challenging time.

More details can be found here - https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan