Local MP Encourages Businesses To Apply For Bounce Back Loans Scheme

Ben Everitt, the MP for Milton Keynes North, has encouraged all eligible businesses in MK to apply for the Government’s new Bounce Back Loans scheme.

The new package, announced by Chancellor Rishi Sunak, will allow small businesses to borrow up to £50,000 or 25% of turnover with the Government paying interest for the first 12 months and guaranteeing 100% of the loan.

Small firms who need quick, vital cash injections will benefit from the scheme, which opens next Monday, by filling out a simple form and the loans should arrive within 24 hours of approval.

Ben Everitt MP commented, “Milton Keynes is lucky to have so many innovative small businesses and this scheme will help ensure our city continues to be a business hub.

“This will help protect certain businesses which may not be covered by some of the Government’s many other schemes aimed at protecting our economy in these difficult times.

“I would encourage any business eligible for the Bounce Back Loans scheme to apply when it opens on Monday.”