Correspondence

Bounce Back Loan Scheme: letter from the Chancellor to lenders

A letter from the Chancellor to all accredited Coronavirus Business Interruption Loan Scheme lenders on the new Bounce Back Loan Scheme.

• From: HM Treasury and The Rt Hon Rishi Sunak MP
• Published: 1 May 2020

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Letter from the Chancellor to lenders on the new Bounce Back Loan Scheme

PDF, 72.3 KB, 3 pages

Letter from the Chancellor to lenders on the new Bounce Back Loan Scheme

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Details

On Monday 27 April the Chancellor announced the new Bounce Back Loan Scheme (BBLS) to support loans of up to £50,000 to small businesses with a 100% government-backed guarantee for lenders. This letter to all accredited lenders under the Coronavirus Business Interruption Loan Scheme (CBILS) sets out the interest rate that Bounce Back Loans will be offered at, and outlines legislative and regulatory changes being made to support the delivery of the scheme. It also clarifies the interaction between lending under BBLS and CBILS.

Published 1 May 2020