Claire Priestly from Harris21.com takes 2 minutes to tell us all about the Bounce Back Loan which opens on 4th May 2020 for SME's in the UK.
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
The following businesses are not eligible to apply:
banks, insurers and reinsurers (but not insurance brokers)
state-funded primary and secondary schools
Don't forget, If you’ve already received a loan of up to £50,000 under CBILSand would like to transfer it into the Bounce Back Loan scheme, you can arrange this with your lender until 4 November 2020.