Coronavirus Bounce Back Loan Scheme Now Open for Applications 4th May 2020 Key features of the BBLS: The scheme is a 100% government backed initiative for small businesses. You can apply* for a loan between £2,000 and £50,000 (up to a maximum of 25% annual turnover), for 6 years. No repayments required for the first 12 months, and you won’t pay any charges should you decide to repay early. Interest rate fixed at 2.5%. Simple online application, with funds transferred to your bank account within days of being accepted. *Full details of eligibility and further information are available on the banks’ websites.