BBLS and its impact in helping UK businesses.
What Is the Business Bounce Back Loan Scheme?
What Is the Business Bounce Back Loan Scheme: FAQs
Where Can I Find More Information About the BBLS?
Aside from this article and, of course, the UK government website, there’s plenty of in-depth information about BBLS on the internet — from detailed terms, eligibility criteria, or any updates or changes to the scheme. The British Business Bank website, for instance, provides a great deal of information about this loan scheme.
Were There Any Additional Fees Associated With BBLS Loans?
Generally speaking, these loans were designed to be as straightforward as possible, so the government was always aiming to minimise any additional fees. As such, there were no arrangement fees, guarantee fees, or even early repayment fees associated with these loans, making them cost-effective for businesses.
What Happened to the BBLS After It Closed for Applications?
After the BBLS application deadline on March 31, 2021, businesses could no longer apply for new loans under this scheme. However, the loans previously issued continued to have their agreed-upon terms and repayment schedules. Additionally, businesses could always explore other financial support options and resources to help their cash flow, from bank loans to P2P lending.
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