BoE eases funding terms as government launches ‘bounce back’ loans
Loans will be excluded from leverage ratio calculations
The Bank of England is making its term funding scheme for small businesses more generous, in line with a new government initiative to get funds to firms impacted by Covid-19.
The government’s “bounce-back loan scheme” (BBLS), the terms of which were finalised today (May 4), offers small businesses loans of between £2,000 and £50,000 ($2,500–$62,000) for a term of up to six years. Loans are guaranteed 100% by the government and no interest is payable for the first year.
The BoE’s term funding
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