Building Through Relationship

Small Business Micro-Loan Scheme

The Chancellor has announced the introduction of a new loan scheme allowing small businesses hit by the impact of the coronavirus measures to apply for up to £50,000 with the government guaranteeing 100% of the advance.

Businesses can apply for a minimum loan of £2,000 up to a maximum of £50,000 or 25% of business turnover.

Features of the loan:

  • The government pays the interest for the first 12 months
  • A two page standard form with no forward looking viability tests or eligible criteria
  • Scheme will open on 4th May
  • Most loans paid within 24 hours of approval
  • No loan repayments during the first 12 months

Further details can be found: or contact us for more information