Join up today and check out the latest blog from Lucy Cohen from Mazuma Money all about the Small business bounce back loans....

"The Small Business Bounce Back Loan is quick and easy to access, and has been launched to support small businesses which are struggling due to coronavirus. The good news is that thousands of small firms and sole traders are eligible– including hairdressers, coffee shops and florists.

You can now apply for the 100% state-backed loan worth up to £50,000. No interest charged or repayments needed in the first 12 months. The interest rate for this loan will then be 2.5% per annum and the repayment term is fixed at six years.

The Government will cover any interest payable in the first 12 months through a Business Interruption Payment to the lender, and lenders will benefit from a 100% government-backed guarantee.

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