BoE eases funding terms as government launches ‘bounce back’ loans

Bank of England
Photo: Juno Snowdon Photography

The Bank of England is making its term funding scheme for small businesses more generous, in line with a new government initiative to get funds to firms impacted by Covid-19.

The government’s “bounce-back loan scheme” (BBLS), the terms of which were finalised today (May 4), offers small businesses loans of between £2,000 and £50,000 ($2,500–$62,000) for a term of up to six years. Loans are guaranteed 100% by the government and no interest is payable for the first year.

The BoE’s term funding

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