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Thousands of businesses across the UK have taken out a government-backed Bounce Back Loan as part of the Chancellor’s scheme designed to help small to medium sized businesses that have been impacted by the Covid-19 pandemic. However, as the time comes for businesses to start paying back the loan, many are facing further struggles and…

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The Bounce Back Loan Scheme was introduced by the Chancellor of the Exchequer in 2020 as a way of helping small to medium businesses struggling due to the coronavirus pandemic. As part of the scheme, businesses could borrow between £2,000 and up to 25% of their turnover, up to a maximum of £50,000. Changes to…

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After its widely-criticised Coronavirus Business Interruption Loan Scheme, under which only a small number of businesses successfully secured funds, the government introduced Bounce Back Loans to help small to medium businesses struggling during the coronavirus pandemic. The Bounce Back Loan Scheme has been issued more than 1.26 million times across the UK, helping many businesses…

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What are the “bounce back” loans? The bounce back loans are a brand new 100% government backed loan scheme for small businesses that allows them to borrow between £2,000 and £50,000. The loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form with access…

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