Charities Eligible for Bounce Back Loans

Charities are now eligible for the Small Business Bounce Back Loan Scheme

Charities are now eligible for the Small Business Bounce Back Loan Scheme (BBLS).

  • businesses will be able to borrow between £2,000 and £50,000 and access the cash within days 
  • loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form
  • the 50% of income from trading criteria is waived for charities. 

The scheme will launch for applications on Monday 4 May and is intended to be a temporary response to the unprecedented challenges to businesses as a result of coronavirus (COVID-19).

The Scheme will initially open until 4 November 2020, with the government retaining the right to extend this.

For full details see https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/

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