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.

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Photo by Micheile Henderson on Unsplash

Suzanne Worthington

Suzanne Worthington

Senior Writer