The Bank of England is making its term funding scheme for small businesses more generous, in line with a new government initiative to get funds to firms impacted by Covid-19.
The government’s “bounce-back loan scheme” (BBLS), the terms of which were finalised today (May 4), offers small businesses loans of between £2,000 and £50,000 ($2,500–$62,000) for a term of up to six years. Loans are guaranteed 100% by the government and no interest is payable for the first year.
The BoE’s term funding
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.