Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme end 31st March.

The Schemes

The schemes have been very popular providing business with low cost unsecured loans through the pandemic through the British Business Bank:

• CBILS

• Bounce Back

The schemes will be replaced by the Recovery Loan Scheme. Whilst this also provides generous terms it is generally considered to be slightly less advantageous as a form of borrowing for the following reasons:

• It does not include a 12 month repayment holiday

• It is expected to be harder to successfully apply

Applications are open until 31st March.