A reminder – as if you need it! – that applications open today for Government’s ‘bounce back’ loan scheme for SMEs. The fast-track scheme will enable businesses to borrow between £2,000 and £50,000 and access the cash within days – in some cases within 24 hours. The government will provide lenders with a 100% guarantee for the loan and pay any fees and interest for the first 12 months. Firms will be able to access these loans through a network of accredited lenders. Businesses can apply online through a two-page standardised application form. There are no forward-looking business viability tests or eligibility criteria for the finance.
