4 May 2020

Bounce Back Loan - How to Apply

202003 MHA Monahans Coronavirus

Applications for the Coronavirus Bounce Back Loans are now open. The full rules of the scheme and guidance on how to apply is available on the British Business Bank website. Please click here.

Eligibility (extensive list can be found on the British Business Bank website)
You can apply for a loan if your business:

  • is based in the UK
  • has been negatively affected by coronavirus
  • was not an ‘undertaking in difficulty’ on 31 December 2019

Who cannot apply (extensive list can be found on the British Business Bank website)

  • banks, insurers and reinsurers (but not insurance brokers)
  • public-sector bodies
  • state-funded primary and secondary schools

If you're already claiming funding
You cannot apply if you're already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).

If you’ve already received a loan of up to £50,000 under CBILS and would like to transfer it into the Bounce Back Loan scheme, you can arrange this with your lender until 4 November 2020.

If you are concerned about the impact Coronavirus will have on your personal and business finances, please contact us. We are here to help.

Information correct at time of publishing.