To apply for a Bounce Bank Loan Scheme Top-Up, complete all of the required information below. It is important that you read and understand all aspects of the Scheme including eligibility criteria and all declarations.
Bounce Back Loan – Top-Up Key Features
- If you have borrowed less than 25% of the annual turnover you stated on your original Bounce Back Loan application form, you are eligible for a Top-Up. The combined value of your original loan and Top-up cannot exceed 25% of your originally stated turnover, and is subject to an overall cap of £50,000. You may only apply for a Top-Up once.
- An interest rate of 2.5% per annum applies on the Top-Up. This is the same interest rate which applies to your existing Bounce Back Loan.
- Government covers the interest on the Top-Up up to the date on which your original interest free period on your existing Bounce Back Loan expires (i.e. 12 months after the initial draw-down of the original loan amount).
- No capital repayments are required up to the date on which your repayment holiday on your existing Bounce Back Loan expires (i.e. 12 months after the initial draw-down of the original loan amount).
- The term of the Top-Up will expire on the same date as the term of your original Bounce Back Loan.
If you need any help or further information, call us on 0345 600 5204 between 09:00 - 17:00 Monday to Friday (excluding Bank Holidays).