The government has announced a new loan aimed at smaller businesses with loans of up to 25% of turnover capped at £50K. These loans will be accessible via a simple online form which will be launched at 9am on Monday 4th May.

The announcement states that the government is guaranteeing the loans and paying the interest for the first 12 months whilst the business will make no capital repayments during this time.

The applications will not include a viability test. Once approved monies will usually be available within 24 hours. We understand that you can not access both CBILS and BBL.