DID YOU KNOW YOU CAN REDUCE YOUR FINANCE COST FOR YOU BOUNCE BACK LOAN FACILITY? *
- If your limited company has taken a Bounce Back Loan and If you no longer need the loan, you can choose to pay it back early and you will not be subject to Early repayment changes
- There are also no early repayment charges for making additional payments
- If you pay the full amount before the 12-month anniversary of when you first took out the bounce back loan, you won’t pay any interest costs.
- If you decide to repay the loan in full at any other time, the outstanding balance will be cleared straight away, but final interest payment will be collected on the next repayment date.
- You can make partial repayments, and additional repayments on a regular basis.
- If you have other borrowings, you may want to think about repaying them before making additional payments to your bounce back loan.
*CONTACT YOUR BANK FOR MORE DETAILS OF HOW THE REPAYMENT OF BOUNCE BACK LOAN WORKS
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