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Small businesses boosted by bounce back loans

A woman wearing glasses is talking on the phone and writing in a notebook, with sewing machines and other people visible in the background

Updated 28th April 2020

Rishi Sunak has announced a new โ€œmicro-loan schemeโ€ under which companies will be able to borrow between ยฃ2,000 and ยฃ50,000 with the government underwriting the entire loan.

The loans will be free of interest, fees and payments for 12 months, the government said. Mr Sunak said the loans would be available from 9am next Monday with companies asked to fill in a โ€œquick standard formโ€ โ€“ with the first loans likely to arrive within 24 hours.

More details to follow.

https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans

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