Can’t repay your Bounce Back Loan?
Find out what options are available to you if you can’t afford to pay back your Bounce Back Loan.
May 2021 marks the first anniversary since the Government launched its Bounce Back Loan Scheme to help businesses affected by the coronavirus pandemic.
If your business has taken out a Bounce Back Loan, you’ll be expected to make monthly repayments after the first anniversary of your loan, a month in arrears.
However, if you’re likely to struggle to start repaying your loan and need more flexibility, the Government has put in place some additional measures to help ease your financial difficulties, under a so-called ‘Pay As You Grow’ scheme.
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