Coronavirus (Covid-19) Small business boosted by bounce back loans

Following continued concern that the banking sector has been slow to process CBIL’s, with only 16,000 being approved to date and amounting to £2.8bn, Rishi Sunak has announced a further option for SME’s.

Small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders, the Chancellor announced on Monday 27th April.

Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to 25% of their turnover (max. £50,000), would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic. They will be available from Monday 4th May at 9am.

In summary

  •      Businesses will be able to borrow between £2,000 and £50,000
  •      No repayments will be due during the first 12 months
  •      No requirement for bank eligibility
  •      Short and simple online application form
  •      100% government guarantee
  •      Available from 9am on Monday 4th May 2020
  •      Loans will then be available within 24 hrs of approval

Testimonials

Don’t just take our word for it, here are just a few of the comments we’ve received so far

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    Elevate is a fantastic payroll service, knowledgeable, helpful, professional, and efficient. As an agency worker I have had dealings with many payroll companies and elevate is by far the best and I have never had a problem, would recommend to everyone and I will only continue to use Elevate as there is never any hassle.

    D. Andrews
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    I have been with Elevate for some time now, and I have always been paid on time. I have never had any problems at all, and they have been amazing whilst going through the difficult time of Covid-19. I can’t thank them enough.

    S. Wells
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    Elevate payroll are extremely professional and when any problem is found they are personal and help until a good conclusion, they were my preferred payroll company whilst I was working in Swindon on an office refurbishment.
    I would recommend elevate to anyone around Wiltshire/Swindon area and I would like to be paid by them again in the future
    Professional and personal at the same time; fantastic.

    M. Lock
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    I approached Daniel at Elevate to help me payroll a good size cohort of contractors. Daniel was always super helpful; thinking outside the box and coming up with ideas to support not just the contactors but for me as well. Daniel is always upfront; honest; flexible and above all, put my contractors at the forefront by always working hard to ensure they were paid on time or even early in most cases which always went down really well with the guys thus creating a better working environment. The team at Elevate have been readily available for any urgent queries and have been able to offer some great guidance. My contractors have valued being with Elevate and all of them hope to be able to stay with Elevate moving forward.
    I would go nowhere else to payroll now. I have been approached by many for the business; and its clear to me that Daniel will not only work over and above to maintain excellent customer/client services but will do so with the upmost integrity.
    We genuinely feel like a partnership has been formed and wish all the best to Elevate and the team.

    Operations Director