The government has rolled out Bounce Back Loans, a digital loan scheme, to support small businesses with their cashflow in the immediate future. Launched on Monday 4 May, the scheme fast-tracks funding to SMEs with loans that are 100% government-backed guarantee for lenders. The government will also pay any fees and interest for the first 12 months (no repayments will be made within this time). Businesses who have taken a BBL can now refinance this into a CBIL.
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