Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether her Department plans to provide support to businesses who are unable to make repayments on their Bounce Back loans.

The Government has always been clear that businesses are expected to make every effort to repay their Bounce Back Loans (BBLs). However, the Government also recognises that some borrowers might require greater flexibility and more time to make their repayments. That is why, for BBLs, the then Chancellor introduced ‘Pay as You Grow’ measures, allowing borrowers to tailor repayments to their individual circumstances. ‘Pay as You Grow’ provides borrowers with a range of options to manage their repayments flexibly. A business facing difficulty making BBLs repayments should contact their lender in the first instance to discuss their options.