Businesses given flexibility to pay back loans

Share on twitter
Share on linkedin
Businesses who took out a Bounce Back Loan will be given the option to repay their loan over a period of up to ten years through a new Pay as You Grow flexible repayment system. Interest-only periods of up to six months and payment holidays will also be available to businesses.

Coronavirus Business Interruption Loan Scheme lenders will be given the ability to extend the length of loans from a maximum of six years to ten years if it will help businesses to repay the loan.

The government is extending four temporary loan schemes to 30 November 2020 for new applications: As a result, more businesses will now be able to benefit from the Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme, the Bounce Back Loan Scheme and the Future Fund.

Graham Sheen

Graham Sheen

Graham Sheen is the BWA Secretary, appointed in 2019. Graham has a strong background in logistics and warehousing, and is very well connected within the warehousing and supply chain sectors.

Leave a Reply