Business Bounce Back Loans launched by HM Treasury this week – and available for Hauliers
On Monday 4th May 2020, HM Treasury launched what they have termed “bounce back loans” which are quick and easy to apply for. Loans are available between £2,000 and £50,000 and all small businesses can apply, including Haulage companies.
If approved, it is promised that the cash will be paid into the nominated bank account within days.
The full article on the HM Treasury website can be viewed here but brief highlights are below:
- Businesses can borrow between £2,000 and £50,000
- The application process launched this week and is quick and easy to complete
- Loans are 100% government backed and you can apply online
These loans are designed to help businesses survive through the ongoing Coronavirus (Covid-19) crisis and are repayable over 6 years. The first year is interest free, with subsequent interest at a flat rate of 2.5%.