This month marks five years since the UK Government introduced the Bounce Back Loan Scheme (BBLS) in May 2020. Designed as emergency support for SME’s during the height of the COVID-19 pandemic, the scheme provided fast-track access to funding of up to £50,000, helping businesses stay afloat during unprecedented times.
For many, these loans were taken over a six-year term, meaning the final 12-month countdown has now begun.
With one year left to repay the remaining balance, now is the perfect moment for business owners to take stock of their financial position and look ahead. Whether it’s investing in new equipment, expanding operations, or simply refinancing existing borrowing, careful planning today can help secure a stronger tomorrow.
At First Capital Finance, we’re here to support you as you enter this next phase. If you’re considering new projects or exploring additional funding options, our team of experienced finance brokers is ready to help tailor the right solution for your business.
Get in touch with us today on 01202 434000 to discuss your future plans, we would love to help.
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