New “Bounce Back Loans” scheme announced by Government

Following extensive lobbying by the RHA and others, the Government has announced an additional scheme to provide financial support to small businesses, including hauliers.
 

The “Bounce Back Loans” scheme, which starts from Monday 4 May, will allow businesses to borrow between £2,000 and £50,000 and access the cash within days. The loans are interest free for the first 12 months, with businesses able to apply online through “a short and simple form”. Further information from the Government is available here: https://www.gov.uk/government/news/small-businesses-boosted-by-bounce-back-loans


Whilst the announcement is a step in the right direction, the RHA is clear that our sector needs further financial support. We will keep up the pressure on the Government to introduce measures such as grants, business rates holidays, VED refunds for SORN vehicles and moving a weekly furlough model.