The Government has set up a scheme that will help small and medium-sized businesses affected by coronavirus (COVID-19) to apply for loans of up to £50,000. Swansea City Centre businesses are advised to apply.
The process for applications will launch on 4 May 2020 at 9am. Business will be able to borrow between £2,000 and £50,000 which won’t require the payment of any fees or interest to be paid for the first 12 months. The government will guarantee 100% if the loan. Loan terms will be up to 6 years and no repayments will be due during the first 12 months.
All small and medium-sized businesses will be eligible to apply for the Bounce Back Loan from Monday 4 May at 9am.
For more details and to apply https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan