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Bounce Back Loans

Articles and news on the Bounce Back Loan Scheme that was introduced by the UK government to support businesses during the coronavirus (COVID-19) pandemic.

Business management

How to choose a debt collection agency

Former Labour shadow chancellor Chris Leslie on how to find a debt collection agency to chase unpaid invoices

Business Loans

Banks may call in debt collectors to recoup unpaid Bounce Back Loans

High street banks want to outsource collection of Bounce Back Loans gone bad to debt collection agencies

Small Business Banking

HSBC will not accept any more Bounce Back Loan applications

Bank says it needs to process existing Bounce Back Loan applications and clear backlog before November 30 cut-off

News

Nearly two thirds of Bounce Back Loans could go bad, says government

Business department says up to 60 per cent of emergency Bounce Back Loans may never be repaid

News

Rishi Sunak to extend government coronavirus business support

Chancellor Rishi Sunak expected to extend Coronavirus Business Interruption Loan Scheme, Bounce Back Loans and Future Fund until end-November

Business Loans

Small businesses have average of just £9,000 left from Bounce Back Loan

Majority of small businesses expect what’s left from their COVID-19 Bounce Back Loans to run out by end of September

Government Grants

MPs back call for ‘targeted’ extension of furlough scheme

Treasury select committee says businesses most affected by social distancing might be viable in the long term

Business Loans

Small businesses should ‘only repay coronavirus debt once back in profit’

Centre-right thinktank Onward argues that HMRC could add debt repayment surcharge to tax owing on profitable businesses, leaving the rest untouched

Business Loans

Lloyds rapped for forcing Bounce Back Loans borrowers to open accounts

Lloyds Banking Group forced SME owners to open fee-charging business accounts if they wanted to borrow state-backed emergency coronavirus funding

Business Loans

Banks ‘will be pushed’ into closing down SMEs unable to repay Covid debt

Treasury turns deaf ear to setting up bad Covid debt bank, pushing banks into foreclosing on SMEs unable to repay government loans

Business Loans

Treasury pushes to double bounce back loan repayment period to 10 years

Banks resistant to extending bounce back loan repayment period because it creates more work and credit risk for them

Business Loans

City grandees call for small business Covid debt to be turned into tax owing

Government should convert £35bn worth COVID-19 debt gone bad into tax owing to save nearly 800,000 SMEs from going under, say 200 financial experts.

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