Coronavirus support

Bounce Back Loan Scheme


The Bounce Back Loan (BBL) scheme is a government initiative to support small and medium-sized businesses. The government provides banks like NatWest with a guarantee for 100% of the loan.

You will have to repay this loan in full.

Bounce Back Loan

Borrow from £2,000 up to £50,000 (up to a maximum of 25% of your turnover) 

Fixed 6 year loan term, with no early repayment fees if you wish to repay the loan early

Interest rate is 2.5% fixed

12 month capital repayment holiday is automatically applied at the start of the loan (this may mean you pay more interest over the term)

The government pays the fees and interest for the first 12 months

Personal guarantee is not required

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Bounce Back Loan Top-Up

If you have borrowed less than 25% of the annual turnover you stated on your original Bounce Back Loan application form, you are eligible to apply for a Top-Up

The combined value of your original loan and Top-up cannot exceed 25% of your originally stated turnover, and is subject to an overall cap of £50,000. You may only apply for a Top-Up once

The minimum borrowing amount for a Top-Up is £1,000

An interest rate of 2.5% per annum applies on the Top-Up. This is the same interest rate which applies to your existing Bounce Back Loan

Government covers the interest on the Top-Up up to the date on which your original interest free period on your existing Bounce Back Loan expires (i.e. 12 months after the initial draw-down of the original loan amount)

No capital repayments are required up to the date on which your repayment holiday on your existing Bounce Back Loan expires (i.e. 12 months after the initial draw-down of the original loan amount)

The term of the Top-Up will expire on the same date as the term of your original Bounce Back Loan


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Pay As You Grow

  • The Government has announced Pay As You Grow options for Bounce Back Loan borrowers to help businesses get back to regular trading. Pay As You Grow could give you more time and flexibility to pay back your loan.
  • Pay As You Grow options were made available to you once you started to repay your Bounce Back Loans, from 12 months after it was first drawn down.
  • Using your PAYG options won’t affect your credit score, or negatively affect your credit file. We may use your requests for Pay As You Grow options to help us assess affordability in any future lending applications, for example we will look at your incomings and outgoings, including the future repayments on your Bounce Back Loan, and also the total amount of all your borrowings, which will include the amount of your Bounce Back Loan.
Find out more about your Pay As You Grow options.

Eligibility criteria for the Bounce Back Loan Scheme

You may be eligible if:

You’re a UK resident with a business or registered charity based in the UK

You can evidence that your business was established before 1 March 2020

You can certify that your business has been adversely impacted by coronavirus (COVID-19)

You're an existing NatWest business banking customer

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You won't be eligible if:

You already have a Coronavirus Large Business Interruption Loan or the Bank of England's Covid Corporate Financing Facility.

You’re a credit institution (falling within the remit of the Bank Recovery and Resolution Directive), public sector body, a state-funded primary or secondary school or an insurance company.

Your business is subject to collections or collective insolvency proceedings.

You did not start your application by 31 March 2021.

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The Bounce Back Loan and Top-Up scheme is now closed

More questions about Bounce Back Loans?

Visit our Frequently Asked Questions to find further guidance and support.

Working with British Business Bank

BBLS, CBILS and CLBILS are managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary for State for Business and Trade (formerly Business, Energy & Industrial Strategy-BEIS).

British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.

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More information on what you can expect from us as a lender during the life of your Bounce Back Loan, including any Top-Up amount

  1. What we have agreed to address

    We will monitor your repayment record during the life of your Bounce Back Loan and take action to help you where there are signs of actual or possible repayment difficulties.

    If we identify that you might be vulnerable, we will make appropriate adjustments to ensure that your circumstances are accommodated throughout the duration of your Bounce Back Loan.

    If you default under your Bounce Back Loan, we will give you a reasonable period to remedy any breach and we will not treat the default as an event of default if it is remedied within this period.

    We will not require you to pay any fees of any description (including on default) or any default interest (except if the Bounce Back Loan is not repaid when due we may continue to charge interest at 2.5% per annum until such time as it is repaid).

    We will give consideration to your information needs once you have a Bounce Back Loan with us and provide information to you in a way which is clear, fair and not misleading.

    We will provide you with information on your right to repay a Bounce Back Loan before your Bounce Back Loan is binding you.

    We will provide you with information on the risks of non-repayment of your Bounce Back Loan, including the impact on your credit file before your Bounce Back Loan is binding on you.

  2. What information we have agreed to provide

    1. Timely, clear and adequate information that will help you to understand that, if you fail to make payments under your Bounce Back Loan, the amount missed, what can be done to remedy, in what timescales, and the impact (if any) on your future repayments;
    2. if you default, we will give you information about any proposed action we might take in respect of your Bounce Back Loan, prior to taking such action;
    3. regular information about your Bounce Back Loan (on at least an annual basis) in the form of a statement setting out details of the payment transactions on the Bounce Back Loan during the period since such information was provided (or the Initial Drawdown Date, if no such information has been provided previously) and amounts outstanding under the Bounce Back Loan; and
    4. information on options available to you for help and assistance, including sources of free independent advice.
  3. Complaints

    We always try to give you the best possible service. If, however, you want to make a formal complaint to us, the easiest way is online but there are also other ways. For more information and to make a complaint online, visit our complaints page.

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