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Bounce Back Loans are the latest addition to the UK government’s support package for small businesses affected by the coronavirus — but will your business be applying for one?

To be launched on Monday, the loans of up to £50,000 are backed by a 100 per cent government guarantee with no interest charged or repayments due for the first 12 months.

Billed as a lifeline for small firms, many are wary of taking on more debt — and senior bankers fear the desire to lend money rapidly could result in high levels of fraud.

Live Q&A

Claer Barrett, the FT’s personal finance editor, and Andy Bounds, the FT’s enterprise editor, will be hosting a live video Q&A on Tuesday May 5 at 12 noon UK time to hear directly from our readers. Post your questions in the comment field below

Are you intending to take out a Bounce Back Loan to keep your business going during the crisis? Perhaps you have already applied for a CBIL (Coronavirus Business Interruption Loan) or are waiting to hear back from your bank.

Perhaps you have questions about how the loan scheme will work, or views about these and other help measures the government has put in place.

To watch live and join in the debate, you can view the video embedded in the story above or watch via the FT’s YouTube channel or LinkedIn page.

You can post questions for Claer and Andy to answer in the comment field below.

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