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How is a Bounce Back Loan different from a Business Interruption Loan?

Do you carry out credit checks?

No! To open a current account, we perform electronic checks (run by third-party services) to verify your identity and comply with UK anti-money laundering regulations. While these checks will not impact your credit score, they will appear on your credit report.

Small businesses could be eligible for both schemes, but the Bounce Back Loan Scheme aimed to help small businesses borrow smaller amounts more quickly, and with more generous terms.

You can read more about the difference between CBILS and BBLS on the British Business Bank’s website.

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