Bounce back loans

Banks prepare for new bounce back loans boom Following the decision by the Chancellor to extend the deadline for applications for bounce back loans and permit top-up loans from November to January banks are bracing for a flood of small business customers seeking access to the cash. NatWest estimated that about 100,000 businesses, or a third of its existing bounce back loan scheme (BBLS) customers, could be eligible for a top-up. Meanwhile, concerns have been raised over the high interest rates charged on debt accrued through the coronavirus business interruption loan scheme (CBILS), which can be as high as 14.99%, and big businesses are calling for the corporate financing facility (CCFF) to be extended for five years.