Applications opened last Monday for the new “Bounce Back” loan scheme for small businesses. The loans are from £2,000 up to a maximum of 25% of turnover, or £50,000. They are 100% backed by the tax payer (rather than 80%) with the government paying the interest for the first 12 months and with no capital or interest repayments due for one year. The loans are at 2.5% interest to be paid back over 6 years with no early repayment charge. You apply through your business’ bank and more information is at: Bounce Back Loan announcement.