November lockdown: Government extends loan deadlines and allows Bounce Back Loan top-ups
The Government has announced that the application deadlines for Government-guaranteed loans has been extended to 31 January 2021. And if you have a Bounce Back Loan, you’ll be able to ‘top up’ if you didn’t take the full amount you were allowed.
The deadline extension applies to these loans available to small businesses:
To be eligible for a top-up to your Bounce Back Loan you must have borrowed less than the maximum you were allowed. (The maximum is 25% of your annual turnover.)
The Government says Bounce Back Loan top-ups will be available from 9 November – ask your loan provider for more details.
- List of Government support you can apply for:
Gov.uk | Government support for small and medium-sized businesses
- List of support and resources from non-government organisations:
Gov.uk | Coronavirus support for business from outside government
- Source for this article:
Gov.uk | News | Economic support update, Monday 2 November (PDF)