Fact sheet: Bounce Back loans
The Bounce Back loan scheme was introduced to support businesses during the coronavirus (COVID-19) pandemic. The guide explains why that loan must be repaid.
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Measures were introduced during 2020 to support businesses affected by COVID-19 such as loans, grants and tax allowances.
The Bounce Back loan scheme helped small and medium-sized businesses to borrow between £2,000 and £50,000 at a low interest rate, guaranteed by the Government.
This guide describes when you should begin to repay that loan, and what can happen to you and your company if the loan is not repaid.
This publication provides general information only. Every effort has been made to ensure that the information is accurate, but it is not a full and authoritative statement of the law and you should not rely on it as such. The Insolvency Service cannot accept any responsibility for any errors or omissions as a result of negligence or otherwise.