The Bounce Back Loan Scheme provides small and medium businesses (SMEs), micro businesses and other businesses with financial assistance in the form of smaller loans.

The scheme is part of a series of government measures for UK businesses.


We are an accredited lender for the Bounce Back Loan Scheme.


On the 24 September 2020 the Chancellor of the Exchequer extended the UK Government’s three COVID business support loan schemes. This means that we can continue to accept new applications for the Bounce Back Loan Scheme until 30 November 2020.  From this date the scheme will be closed for new applications.


The Chancellor also announced some further changes to the Bounce Back Loan Scheme in relation to the term of the loan and the repayment options.  We are awaiting further guidance from UK Government on the detail of these changes.  We appreciate that you may have some questions so please be assured that as soon as we have the information we will share that with you..


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Key features

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    Loans up to £50,000

    Loans from £2,000 up to 25% of business turnover. The maximum loan amount is £50,000.

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    Terms available

    The length of the loan is six years but early repayment is allowed, without early repayment fees.  You will not have to repay any of the loan for the first 12 months.

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    Interest & Fees

    • The UK Government will pay us, on your behalf, the interest for the first 12 months of the loan as a ‘Business Interruption Payment’ so you don’t have to.
    • Thereafter interest will be payable at a fixed rate of 2.5% per annum.
    • We will not charge an arrangement fee.

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    • The Government provides us, as your lender, with a guarantee of 100% to secure the outstanding balance on the facility (both capital and interest).
    • No other security will be required.


    Please note: Your business remains liable for repaying 100% of the debt.

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Eligibility criteria

Your business is based and operates in the UK and you must be able to self‑certify to us as your lender that it:


  • Was established in the UK by 1 March 2020

  • Generates more than 50% of its income from trading or commercial activity in the UK (this requirement does not apply to charities or further-education colleges)

  • Has been adversely impacted by the coronavirus (COVID-19) pandemic

  • As at 31 December 2019, was not experiencing financial difficulty (if it was, you must confirm your business complies with additional state aid restrictions under de minimis state aid rules)

  • Is not already using a Government-backed Coronavirus Loan scheme, unless the Bounce Back Loan Scheme will refinance your existing Government-backed Coronavirus Business Interruption Loan Scheme.

Businesses not eligible:

  • Banks, insurers and reinsurers (but not insurance brokers)

  • Public-sector organisations

  • State-funded primary and secondary schools

  • Businesses in bankruptcy or liquidation or undergoing debt restructuring at the time applications for finance are submitted.


Full details on Bounce Back Loan Scheme eligibility criteria and the list of participating Bounce Back Loan Scheme lenders can be found on the British Business Bank website.

Important information

The Government has determined that loans made under the Bounce Back Loan Scheme:


  • will not have the usual consumer protections and remedies that would otherwise be available to you under the Consumer Credit Act 1974, other than in a default debt collection situation;
  • we will not conduct a credit worthiness or affordability check when you apply, and have no responsibility for your decision to borrow;


  • applications from eligible borrowers will be subject to fraud, Anti-Money Laundering and Know Your Customer Checks.


We recommend you seek independent legal advice if you are in any doubt about the Bounce Bank Loan Scheme not being regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974.

If you fail to make any repayments on a Bounce Back Loan, we will be entitled to take action against you to recover the full amount of the Loan. Missing repayments could result in legal proceedings, and have a negative impact on your credit rating which may make it more difficult for you to obtain credit in the future.

Whether we provide credit depends on your circumstances, and you must be 18 or over. Lending criteria, terms and conditions apply.

You recognise that by providing inaccurate or incomplete information in your application that you will be regarded as attempting to gain, or gaining, a financial advantage dishonestly and as such will be liable to criminal prosecution for fraud under the Fraud Act 2006.

How to apply

If you are an existing AIB customer, you can apply online here. Alternatively contact your Relationship Manager in the normal way or speak to one of our Customer Service Team on 0345 6005 204. Lines are open Monday-Friday 9.00am-5.00pm (excluding Bank holidays). Please note that we are experiencing extremely high call volumes so you may have to wait longer than usual to speak to us.


You must be an existing customer of the bank to apply for a Bounce Back Loan. If you only hold a Personal Current Account with us we will not insist on you opening a Business Account in order to avail of a Bounce Back loan. If you decide to switch your current account to another Bank you won’t have to close your loan but you will continue to be liable for any repayments to clear it per your contract.



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Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit

Further information

For loans provided under the Bounce Back Loan Scheme we have agreed that we will:


  1. monitor your repayment record during the life of the scheme facility and take appropriate action where there are signs of actual or possible repayment difficulties;

  2. make appropriate adjustments where we identify you as vulnerable or have reason to believe that you may be vulnerable, to ensure your circumstances are accommodated throughout the duration of the Bounce Back Loan;

  3.  on default by you, give you a reasonable period to remedy any breach and will not treat the same as an event of default if it is remedied by you within this period;

  4. not require you to pay any fees of any description (including on default) or any default interest (except that we may continue to charge interest at 2.5% per annum if the scheme facility is not repaid when due until such time as it is repaid).

  5. pay due regard to your information needs and provide information to you in a way which is clear, fair and not misleading.


As your Lender we will provide you with the following minimum information during the term of your Bounce Back Loan;


  1.  Timely, clear and adequate information to enable you to understand what happens if you fail to make payments under the Bounce Back Loan, the amount of payments you missed and what can be done to remedy this, along with timescale and impact on future payments;

  2. If you default on your Bounce Back Loan, we will advise you of the proposed action we will take prior to taking this action;

  3.  Regular information on your Bounce Back Loan (at least on an annual basis) in the form of a statement which will set out details of your Bounce Bank Loan payment transactions and the amount outstanding;

  4. Information on options available to you for help and assistance, including sources of free independent advice.



Complaints about our service

We want to listen to you, our customer.  By putting you first, we aim to improve your experience of our service.


When you tell us that you are not happy with us, we will welcome your comments and complaints.  That’s because whatever you tell us gives us an opportunity to make a difference.


If you have reason to complain you may do so in person, in writing by post or email or by telephone. Details of our complaints handling procedures are available on request from your business centre, by contacting us on 0345 6005 204 or at  


If we are unable to resolve your complaint internally to your satisfaction, or if we have not resolved your complaint within 8 weeks from when you first let us know about your concerns and if you are an eligible complainant, you may be able to refer your complaint to The Financial Ombudsman Service, Exchange Tower, London E14 9SR (


The Financial Ombudsman Service is an organisation set up by law to give consumers a free and independent service for resolving disputes with financial firms. Details of those who are eligible complainants can be obtained from the Financial Ombudsman Service.