How to apply for new coronavirus 'bounce back' business loans worth £50,000
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mirror.co.ukSmall businesses will be eligible for new loans worth up to £50,000 in the coronavirus crisis. The 'Bounce Back' loans will be backed by a 100% government guarantee, Chancellor Rishi Sunak said.
The top Tory said it was the latest move to shield the economy and workers from the coronavirus shutdown. But it comes after the Government faced weeks of criticism for slow progress in getting government-backed credit to companies.
And as recently as last week, Mr Sunak opposed 100% government guarantees - suggesting the 80% guarantee on an existing loan scheme was enough.
Here's how the new loans work and how to apply. What has changed? Under the existing scheme, Coronavirus Business Interruption Loans (CBIL) worth up to £5m are offered to
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