The Scheme has been designed to enable businesses to access finance quickly. Businesses are required to complete an online application form, which is expected to be assessed by their lender within a matter of days.
In some instances, the lender may ask you for additional information, such as an HMRC self-assessment tax return. Applications from eligible borrowers will be subject to customer fraud, Anti-Money Laundering (AML) and Know Your Customer (KYC) checks.
More Bounce Back Loan Questions and Answers
- What term can I borrow a BBL over?
- What BBL fees/interest will I be required to pay?
- When do I have to start BBL repayments?
- What products are offered on the BBL Scheme?
- How long will it take me to get the BBL funds?
- How much can I apply for with a BBL?
- How long is the BBL scheme open?
- How do I apply for a Bounce Back Loan?
- Am I eligible for a Bounce Back Loan?
- What is a Bounce Back Loan?