Bounce Back Loan Scheme (BBLS)

Bounce Back is a cognitive-behavioral, skills-based group intervention designed for elementary school children (ages 5-11) who have experienced traumatic events.

1. Overview Bounce Back
   • The Bounce Back Loan Scheme was a 100% government-backed initiative.
   • Businesses could borrow between £2,000 and up to 25% of their annual turnover (maximum loan of £50,000).
   • Interest rate fixed at 2.5%.
   • No repayments required for the first 12 months.

2. Eligibility and Application
   • Available to small businesses impacted by COVID-19.
   • Apply through participating banks and lenders.
   • Quick and streamlined application process.

3. Loan Repayment
   • Repayments over 6 years.
   • Payments start 12 months after receiving the loan.
   • Misuse or non-repayment could lead to investigation by the Insolvency Service.

4. Case Studies
   • Case 1: Companies submitted false documents to secure funding, leading to winding up by the Court.
   • Case 2: A director applied for a loan despite the company being in Administration, ignoring other creditors.

For more details, visit the GOV.UK Bounce Back Loan Fact Sheet. Remember to assess your business needs and obligations carefully! 🌟