Sign up to save your podcasts
Or
Share The NEW Bounce Back Loan Scheme
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
The NEW Bounce Back Loan Scheme
The coronavirus business interruption loan hasn’t quite worked out how the government wanted and so for smaller businesses, there is now the bounce back loan scheme.
The government don’t often do things that are positive for small businesses and entrepreneurs but with the bounce back loan scheme they have delivered something that can make the difference. Naz explains exactly what the qualifying criteria are and what he thinks about the scheme in this informative episode.
KEY TAKEAWAYS
- It is 100% guaranteed by the government so there is no risk for the bank as a lender.
- There is no interest to be paid in the first 12 months
- The loan is over 6-year period and you can borrow anything between 2,000 and 50,00 pounds.
- Your business must be UK based, established on or before 1 March 2020 and negatively affected by the coronavirus.
- It is a broad scheme and the interest rate is phenomenally low.
- You need to look at your own circumstances and seek advice from an appropriately qualified person before making an application.
- It is a self-certification process and you are responsible for repaying the loan in full, you need to understand the self-certification that you are submitting.
BEST MOMENTS
‘At the moment I’m extremely impressed with it’
‘Of my clients, not a single one has been refused’
‘It’s an extremely quick and efficient process’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
· YouTube.
View all episodes
By Shaz NawazThe coronavirus business interruption loan hasn’t quite worked out how the government wanted and so for smaller businesses, there is now the bounce back loan scheme.
The government don’t often do things that are positive for small businesses and entrepreneurs but with the bounce back loan scheme they have delivered something that can make the difference. Naz explains exactly what the qualifying criteria are and what he thinks about the scheme in this informative episode.
KEY TAKEAWAYS
- It is 100% guaranteed by the government so there is no risk for the bank as a lender.
- There is no interest to be paid in the first 12 months
- The loan is over 6-year period and you can borrow anything between 2,000 and 50,00 pounds.
- Your business must be UK based, established on or before 1 March 2020 and negatively affected by the coronavirus.
- It is a broad scheme and the interest rate is phenomenally low.
- You need to look at your own circumstances and seek advice from an appropriately qualified person before making an application.
- It is a self-certification process and you are responsible for repaying the loan in full, you need to understand the self-certification that you are submitting.
BEST MOMENTS
‘At the moment I’m extremely impressed with it’
‘Of my clients, not a single one has been refused’
‘It’s an extremely quick and efficient process’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
· YouTube.
More shows like Wealth Made Simple Podcast
View all
The Progressive Property Podcast
6 Listeners
Leveraged Lifestyle Podcast
4 Listeners
Property Sourcing Profits Podcast
1 Listeners