The new Bounce Back Loans scheme will help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.
The Bounce Back Loan Scheme enables businesses to obtain a six-year term loan at a government set interest rate of 2.5% a year.
Details as follows:
Firms will be able to access these loans through a network of accredited lenders.
You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).
To apply for a Bounce Back Loan please visit the GOV.UK website.
The full rules of the scheme and guidance is available on the British Business Bank website.
Please visit the Business Wales Covid-19 Support for Business page for information for your business on dealing with the Coronavirus outbreak.