We understand that this is an extremely difficult time for small business owners and that Bounce Back Loans are of paramount importance to you and your business. Please rest assured that the team is working tirelessly to deliver them to as many members as possible as fast as possible.
We will be sharing more information in the coming days but there are a few points that I wanted to address:
We have an initial limit on the amount of money we are able to lend as Bounce Back Loans from the British Business Bank. This means that we cannot lend to all members in need of support from the Bounce Back Loan Scheme at once. To deliver this funding quickly and efficiently we will take a phased approach to lending.
Once we have reached our initial limit on the amount we can lend through the Bounce Back Loan Scheme we will work with the British Business Bank to increase it. This is likely to cause a delay in lending.
You can see if you’re eligible for a Bounce Back Loan here .
In regards to timeline, the team are working hard with the British Business Bank to start delivering Bounce back Loans from this week and we will give more information as soon as we’re able to.
Thank you for your patience,