Are You Struggling to Repay a Bounce Back Loan?

The Bounce Back Loan Scheme (BBLS) was a lifeline for many businesses during the height of the pandemic. It offered quick funding with flexible terms to help small and medium-sized companies stay afloat. But fast-forward to today, and many business owners are grappling with the burden of repaying these loans, and uncertain about what their next step should be.

The Bounce Back Loan Scheme: A Brief Recap

The BBLS offered businesses loans of up to £50,000, interest-free for the first year, with low interest rates on the balance remaining after that. No personal guarantees were needed, and companies self-certified their eligibility. Bounce back loans were meant to support the business, so were not for personal use.

The Reality Now

New applications for bounce back loans closed in March 2021, but the pressure to repay hasn’t gone away. Many businesses are finding that the post-COVID recovery is slower than expected; margins are tighter; cash flow is stretched. And now, repayments are due.

Government investigations into how these loans were used is increasing, especially in cases where businesses have shut down or directors have walked away. If loans weren’t used appropriately, or if a business closes without resolving its debts, the consequences can be serious. Directors could even face personal repercussions in some cases.

Your Bounce Back Loan Options and Why Timing Matters

If you're struggling with bounce back loan repayments, options do exist. These include extending the loan term, requesting repayment holidays or switching to interest-only payments for a time. The key is acting early. Ignoring the issue only narrows your choices.

We can also explore restructuring plans with you, or even full exits. We are here to help.

Finding a Solution

This is where our team thrives: in the space between rigid processes and practical solutions. We don’t just follow the rulebook, we look at the situation in your business, your goals and your challenges, in order to find solutions that work in practice, not just on paper.

• Are you considering a sale? We’ll assess how to position your business to attract buyers, even with debt on the books.

• Is your cash flow under pressure? We help uncover creative ways to renegotiate obligations or rework how repayments can fit into your broader business plan.

• Are you worried about your liability? We'll help you understand how to protect your personal and professional future, while making the smartest decisions for your business today.

You’re Not Alone - Talk to Us

Every business hits roadblocks. We’ve been there ourselves, so we know that the difference is in how you respond. With the right insight, support and strategic thinking, even a challenging financial time can become an opportunity to reset and rebuild.

We work closely with the owners of small and medium-sized businesses in a range of sectors, helping them move forward, not just survive.

If you’re worried about your bounce back loan payments, please get in touch. We will work with you to find a way forward, together.