Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Bounce Back Loan Scheme

Treasury written question – answered on 13th May 2020.

Alert me about debates like this

Photo of Alec Shelbrooke Alec Shelbrooke Conservative, Elmet and Rothwell

To ask the Chancellor of the Exchequer, whether the Bounce Back Loan scheme will be made available to businesses that bank with Cash Plus and other online lenders and that cannot open new business accounts with high street lenders that have stopped accepting new customers.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The new Bounce Back Loans Scheme (BBLS), launched 4 May, will ensure that the smallest businesses can access up to £50,000 loans in a matter of just days.

There are over 16 lenders that are offering loans under the scheme which can be found here: https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/current-accredited-lenders-and-partners/

Any lender that wishes to become accredited to offer Bounce Back Loans should contact the British Business Bank.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.