The Bounce Back Loan Scheme (BBLS).

£50.00

Regarding Coronoviurus we want to let you know about The Bounce Back Loan Scheme (BBLS).

 

The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year. (It is not our declaration, but copy information from HMRC gov.uk)

If your total Turnover (Income from Bank statement) is £40,000 you can apply max 25% of it – £10,000.

 

Example: Borrow Money Loan Amount (GBP) 10,000.00

Term: 6 years

Monthly Repayment £166.66

Interest Rate 2.5%

Total Interest £636.09

Total Repayment £10,636.09

 

You can apply true to your bank.