The Chancellor has announced additional support for small businesses under the Government’s Coronavirus Support scheme.

The new “Bounce Back Loans” will provide loans to small businesses with a 100% government backed guarantee for lenders.

These loans will be for up to £50,000 and are in addition to a range of existing support for small businesses – including grants, furlough funding and business rates cancellation. 

Key features of the new scheme will be a short standardised form of application and the fast track processing and speedy release of funds – within days – something we know many small businesses across the country need now to enable them to get through the current crisis. Throughout this crisis period, Fiona Bruce Solicitors have stayed fully open for business. We will continue to be so and are available for clients to contact remotely by a variety of means, whilst our spacious premises facilitate socially distant working.

All the lawyers in our Commercial Team remain ready to support our business clients and wish them well during these challenging times.  

The contents of this article do not constitute legal advice and are provided for general information purposes only.

The contents of this post do not constitute legal advice and are provided for general information purposes only