Bounce Back Loan scheme supporting almost 63.5k businesses in Scotland - and there’s still time to apply
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dailyrecord.co.ukUK Government schemes to support businesses recovering from coronavirus have paid out £2 billion to around 65,000 firms in Scotland.
The Bounce Back Loan scheme, which was introduced in May, offers between £2,000 and 25 per cent of the turnover of small and medium businesses - up to a maximum of £50,000.
The UK Government also guarantees the loans, which have no interest for the first year before the rate rises to 2.5 per cent after 12 months.
Since its inception, the Treasury says that 63,469 loans have been approved, totalling £1.8 billion. In the case of the Coronavirus Business Interruption Loan Scheme, more than £587 million has been paid out to date, to 2,693 small and medium businesses looking for up to £5 million.
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