A new 100 per cent government-backed loan scheme has been revealed to support small business during the Covid-19 outbreak.

Chancellor Rishi Sunak unveiled the new Bounce Back Loans scheme yesterday (27 April 2020) with businesses able to borrow between £2,000 and £50,000.

The scheme will launch for applications on Monday 4 May, with companies able to access loans through a network of accredited lenders.

The government will provide lenders with a 100 per cent guarantee for the loan and pay any fees and interest for the first 12 months.

Read more at: Insider Media