The Chancellor, Rishi Sunak, has announced the following extra support for UK businesses:
1. Loans worth 25% of turnover, up to £50,000
2. Government paying interest for the first 12 months
3. 100% government guaranteed
4. No red tape or test of viability
5. Available from next Monday
6. Paid within 24 hours of approval
If you have found it difficult to get a loan up to now, this additional support could help you and I encourage you to approach your lender again.
More details can be found here - https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans
