Bounce back loan borrowers can delay repayments by extra six months

Date Added | February 22, 2021

As part of 2020’s commitment to its members by providing online training for accountants in practice, we have provided a News Update for our members on the Bounce Back Loan letting them know that borrowers can delay repayments by an extra six months.

Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans.

Bounce Back Loan borrowers will now have the option to tailor payments according to their individual circumstances with the option to delay all repayments for a further six months. Pay as You Grow will be available to over 1.4 million businesses, which collectively took out nearly £45 billion through the Bounce Back Loan Scheme.

Click here for more details about the C19 resources and updates available to 2020 Members.