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Bounce Back Loans - How they work

Can I have a Coronavirus Business Interruption Loan and a Bounce Back Loan?

If your business is already getting a Coronavirus Business Interruption Loan of more than £50,000, you’re not eligible for the Bounce Back Loan Scheme.

However, if your Business Interruption Loan is for £50,000 or less, you may take out a Bounce Back Loan and use the money to repay your Business Interruption Loan, as long as the money you get from the Bounce Back Loan is enough to pay back the other loan in full.

You may not hold both a Coronavirus Business Interruption Loan and a Bounce Back Loan.