Bounce Back Loan Scheme (BBLS)

Bounce Back Loan Scheme (BBLS) – are you starting to think about repaying?

The Bounce Back Loan Scheme (BBLS) is a scheme that was set up to support UK businesses throughout the pandemic who ran into difficulty. Now is the time for businesses to start paying back their loans.

Background about the Bounce Back Loan Scheme

The scheme is mainly for SME’s, micro businesses and any other business that require a smaller loan from the government. The loan could be anywhere between £2,000 and £50,000 but repaid over the course of 6 years. There are no set up fees as well as the first 12 months essentially being interest free. This is with the government covering payments. This meant it was far easier for businesses to borrow cash meaning they save their business during uncertain times.

There were also no repayments due within the first 12 months along with Pay As You Grow (PAYG) which allowed businesses to manage their cashflow. This allowed them to get back to where they were pre-pandemic. From the 31st of March 2021 the BBLS closed for new applications, including those for top-ups, meaning now is the time when businesses are starting to think about repaying their loans.

More about Pay As You Go

Pay As You Go (PAYG) helped businesses who had started to pay back their loan payments. So, if now is the time when you are thinking about repaying them, PAYG could help you if your business is struggling. PAYG will enable businesses (if they have started repaying their bounce back loans) to:

  • Request an extension for an extra 4 years on top of the 6 years already given to them, at the same fixed interest rate of 2.5%
  • Reduce their monthly repayments for up to 6 six months if they only pay back their interest. However this option is only accessible up to 3 times during the loan period
  • Take a repayment holiday for up to 6 months, and again this option is only available during the loan period

The good news is, 3 months before your repayments are due, the lender will communicate PAYG to you. You will then be contacted directly by your lender.

Contact Us

Scaffold Finance is here to help so if you would like to discuss your options or have any queries about the above information, please give us a call to speak to our scaffolding specialists on 01494 506 383 or email us at For further information on the Bounce Back Loan Scheme or PAYG visit the British Business Bank website for guidance.

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