We are accredited by the British Business Bank to lend Bounce Back Loans
We will only be offering Bounce Back Loans to existing customers.
What is the Bounce Back Loan Scheme?
The Bounce Back Loan Scheme (BBLS), delivered by lenders accredited by the British Business Bank, is a new scheme designed to enable businesses to access finance more quickly during the coronavirus outbreak.
BBLS targets small- and micro- businesses in all sectors, providing loans from £2,000 up to 25% of the business’ turnover with a maximum loan of £50,000.
The scheme provides lenders with a 100% government-backed guarantee. In addition to that, the government will also pay any interest or fees charged in the first year.
Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy.
British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.
BBLS with Capital on Tap
Capital on Tap is accredited by the British Business Bank to offer bounce back loans between £2,000 and £50,000, up to a maximum of 25% annual (calendar year) turnover. The loans need to be used as working capital or as an investment in your business, or to refinance loans used for such purposes.
Any bounce back loan has a rate of interest that is fixed at 2.5% for the entire 6 year period. The loan will also be free of capital repayments for the first 12 months, meaning you won’t need to make a repayment during this time. The loan term is six years, but you can pay back the loan sooner with no early repayment charge.
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That's over £1.5 billion lent to small businesses around the UK to help them reach their business goals.
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