What is this?

This is a temporary loan scheme providing lenders with a guarantee of 80% on each loan in order for the lenders to continue to provide finance to small businesses.

Who can access this?

Small and medium sized businesses giving them access to loans, overdrafts, invoice finance and asset finance up to £5m for up to 6 years. Your turnover must be less than £45m per year and meet other British Business Bank eligibility criteria.

It’s a loan so is there interest and levied fees?

The government will make a Business Interruption Payment to cover the first 12 months interest payments and any lender-levied fees.

How do you access the scheme?

Talk to your business bank or one of the 40 accredited finance providers to discuss your business plan.

If you have any specific questions that have not been answered above, please contact us or leave a comment below.