Do you know a bibble from a sibble? Learn the Government loan lingo

New situations call for new words and the coronavirus outbreak has added many new words and phrases to our common vocabulary.

From the basics like coronavirus, social distance and self-isolate, we’ve also learned COVID-19 (did you know it stands for ‘COronaVIrus Disease 2019′?), fomite, R-rate and more.

Here at Tide, we’re using two more new words to talk about the Government’s coronavirus support schemes for businesses. Do you know a bibble from a sibble? Maybe you’ve already applied or got one. Here’s what they are:

What’s a bibble?

‘Bibble’ comes from BBL which stands for Bounce Back Loan.

With this loan scheme, you can get from £2,000 up to 25% of your annual turnover to a maximum of £50,000, interest-free for a year and no repayments for the first 12 months.

What’s a sibble?

‘Sibble’ comes from CBIL which it stands for Coronavirus Business Interruption Loan.

This loan scheme offers loans of up to £5 million for SMEs through the British Business Bank.

Read more

At the start of the UK lockdown, everyone at Tide switched to remote working almost overnight. It’s business as usual for us so if your business has been disrupted by coronavirus, here are a few things you might have missed that might be useful:

• Coronavirus lockdown: 10 ways Tide is supporting you
  Here are some of the ways you can take up the support we’ve been offering during lockdown.
• Ask our eligibility checker chatbot
  What coronavirus help are you eligible for? Ask our chatbot and you’ll get helpful links to more detailed information.
• Join a Tide webinar
  Our webinars are FREE and open to everyone, not just Tide members.

Have your say

How is the coronavirus affecting you and your small business? We’re keen to hear from you – get in touch with us on LinkedIn, Facebook or Twitter.

Photo by Jamie Street on Unsplash