The Government have now announced a further loan scheme designed to help the smallest of businesses that have been affected by COVID-19.
The key details are summarised below:
– The scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000 (up to 25% of turnover).
– It will launch on 4 May 2020 and be delivered through accredited lenders.
– The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
– Loan terms will be available for up to 6 years and no repayments will be due during the first 12 months.
Further information can be found by clicking the following link.