New Bounce Back Loan Scheme

The Chancellor has announced a new loans scheme aimed at small firms. The scheme is in addition to the business grants, tax deferrals and job retention schemes. Businesses will be able to borrow between £2,000 and £50,000 and will have access to cash ‘within days’. Loans will be interest-free for the first 12 months. The scheme will launch for on-line applications on Monday 4 May.