Bounce Back loans pass the one million mark
More than one million small and medium-sized enterprises have now taken out Bounce Back loans.
More than one million small and medium-sized enterprises (SMEs) have now taken out Bounce Back loans. The news underlines the popularity of this element of the government’s Covid-19 support for businesses. SMEs that have yet to borrow should consider doing so.
The scheme offers loans of up to £50,000 to any business that has suffered some form of detrimental impact during the pandemic. In practice, that is likely to be almost every business. The loans are available from 11 private sector banks, with the government guaranteeing the debt if borrowers default, and carry an interest rate of just 2.5% a year. A firm pays no interest or charges in the first 12 months.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The scheme is also worth considering if you’ve already borrowed less than £50,000 from the alternative Coronavirus Business Interruption Loan Scheme (CBILS), which carries more expensive charges. You can’t have a Bounce Back loan and CBILS finance at the same time, but you can use the former to refinance the latter, cutting the cost of borrowing. There is still time to arrange a Bounce Back loan; the scheme is scheduled to remain in place until 4 November.
-
8 of the best properties for sale with indoor gymsThe best properties for sale with indoor gyms – from a four-storey mews house in London’s Knightsbridge, to a 1920s Arts & Crafts house in Melbury Abbas, Dorset
-
Top stock ideas for 2026 that offer solidity and growthLast year’s stock ideas from MoneyWeek’s columnist and trader, Michael Taylor, produced another strong performance. This year’s stocks look promising too
-
Market predictions for 2026: Will Dubai introduce an income tax?Opinion My 2026 predictions, from a supermarket merger to Dubai introducing an income tax and Britain’s journey back to the 1970s
-
The steady rise of stablecoinsInnovations in cryptocurrency have created stablecoins, a new form of money. Trump is an enthusiastic supporter, but its benefits are not yet clear
-
Goodwin: A superlative British manufacturer to buy nowVeteran engineering group Goodwin has created a new profit engine. But following its tremendous run, can investors still afford the shares?
-
A change in leadership: Is US stock market exceptionalism over?US stocks trailed the rest of the world in 2025. Is this a sign that a long-overdue shift is underway?
-
Modern Monetary Theory and the return of magical thinkingThe Modern Monetary Theory is back in fashion again. How worried should we be?
-
Metals and AI power emerging marketsThis year’s big emerging market winners have tended to offer exposure to one of 2025’s two winning trends – AI-focused tech and the global metals rally
-
King Copper’s reign will continue – here's whyFor all the talk of copper shortage, the metal is actually in surplus globally this year and should be next year, too
-
The coming collapse in the jobs marketOpinion Once the Employment Bill becomes law, expect a full-scale collapse in hiring, says Matthew Lynn
