Bounce Back Loans Now Live

The loan applications for the Bounce Back Loan went live yesterday 4th May.  Here is what we know:

Applications are via your online banking, we cannot apply for you, but we are here to answer any questions you have.

The accredited banks at this stage are:

  • Barclays
  • Lloyds
  • RBS
  • HSBC
  • Natwest
  • Santander
  • Clydesdale Bank
  • Danske Bank
  • Ulster Bank


You MUST apply through your main business bank for this loan – however I have been infromed that HSBC are taking applications from non clients if they open a business bank account before applying.

Other banks are applying for accreditation – I spoke to Metro Bank yesterday and they have applied to offer these loans.

Here is how to apply:

Go to your usual online banking login.

  • You should see a notice about the new Bounce Back loans, or about COVID19 support
  • You will need:
  • Your bank account number and sort code
  • Your business post code
  • Annual turnover
  • How much you want to borrow
  • Be prepared to answer yes/no to questions about your situation and your understanding of the Bounce Back loan
  • You will then receive an acknowledgement by email
  • This will be followed up by confirmation and funds
  • You DO NOT need to supply financial reports or data

Here’s what we know about the Bounce Back Loans so far:

  • You can apply from Monday 4 May 2020
  • Loans are 100% guaranteed by Government
  • Businesses can borrow between £2,000 and £50,000 (up to 25% of your turnover)
  • No repayments or interest in the first 12 months
  • Interest capped at 2.5% after that
  • Loan term can be up to 6 years
  • 2 page self-certification form to apply

Please let us know if you apply and are successful so we can watch out for the deposit of funds.  We will set up a new COA liability account for these loans so they are easily trackable in Xero.