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Bounce Back Loan Scheme

Pay As You Grow

To give borrowers using the Bounce Back Loan Scheme more flexibility to pay back their loan, the Government has announced new repayment options called Pay As You Grow.

If you already have a Bounce Back Loan, you don’t need to do anything – we will send you your repayment schedule before your first payment is due, and explain the Pay As You Grow options.

To find out more about Pay As You Grow, visit the British Business Bank’s website here.

Help your business move forward with a loan of up to £50,000

Small businesses are at the heart of our communities, and key to our local and national economy. That’s why we want to do everything we can to help our business customers recover from the impact of the coronavirus pandemic.

Our ambition to become the UK’s best community bank is more important now than ever, so we’re proud to be part of the British Business Bank’s Bounce Back Loan Scheme (BBLS).

Backed by the UK Government, the scheme is designed to support small businesses by offering a fixed-rate loan of up to 25% of your turnover, between £2,000 and £50,000, that’s interest-free for you for the first year.

From 26 June, Limited Liability Partnerships (LLPs) will also be able to apply for one of our Bounce Back Loans. Please see below for the eligibility requirements for BBLS.

Built for small businesses

Borrow up to 25% of your annual turnover in 2019, up to a maximum of £50,000. Find out more from the British Business Bank.

Easy online application

It doesn’t take long to apply, and you only need a few pieces of info about you and your business.

Government guaranteed

Your loan is backed by the UK Government, and there are no fees or interest for the first 12 months.

We’re here to help

If you have any questions or need help applying, read through our help page or get in touch with us.

Key features of the Bounce Back Loan

  • Quick payment if your application is successful – usually the next working day
  • Fixed-term six-year loan, with no application or early repayment fee
  • No interest is paid by you for the first 12 months
  • A fixed interest rate of 2.5% pa after the first 12 months for the term of the loan
  • You are liable for paying back 100% of the debt
Am I eligible for the Bounce Back Loan Scheme?

You may be eligible if:

  • you have a Metro Bank Business Bank Account
  • your business is UK-based and has been negatively affected by the coronavirus pandemic
  • you established your business and began trading before 1 March 2020
  • your business is solvent
  • you earn more than 50% of your business income from trading – unless it’s a charity or further education.

You are not eligible if:

  • you have an existing application or have already received a Bounce Back Loan individually or as part of a wider group of businesses
  • you have an existing application for or have already received a Coronavirus Business Interruption Loan, a Coronavirus Large Business Interruption Loan or the Covid Corporate Financing Facility – unless you’re refinancing by taking out a Bounce Back Loan instead
  • your business is going through restructuring or in liquidation
  • your business is a bank or building society, an insurance company, a public sector company, or a primary or secondary school funded by the state.

We will need more information if:

  • your business was in difficulty before or on 31 December 2019 – if you’re not sure, you can use this guide to check. You can also find out more from the British Business Bank or speak to us on 0203 402 8140 between 8am and 6pm, Monday to Friday.
What do I need for my application?

To apply for a Bounce Back Loan, you’ll need to have the following:

  • your Metro Bank account number and sort code
  • the business name, address and contact details
  • your annual turnover in 2019 or an estimate if you began trading mid-way through the year
  • the authority to apply for the loan
Paying back the loan

We are expected to do the following in respect of your Bounce Back Loan:

  • We will monitor your repayment record during the life of your loan and take action to help you where there are signs of actual or possible repayment difficulties 
  • If we identify you as vulnerable, or we have reason to believe you may be vulnerable, we will make appropriate adjustments to ensure your circumstances are accommodated throughout the duration of your loan
  • If you default under the loan, we will give you a reasonable period to remedy any breach and will not treat the default as an event of default if it is remedied by you 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 loan is not repaid when due, in which case we may continue to charge interest at 2.5% per annum until such time as it is repaid). 
  • We will provide information in a way which is clear, fair and not misleading. 

We will also provide you with the following information in relation to your Bounce Back Loan during its term:

  • Timely, clear and adequate information that will help you to understand that, if you fail to make payments under your loan, the amount missed, what can be done to remedy, in what timescales, and the impact (if any) on future repayments
  • If you default, we will give you information about any proposed action we may take in respect of the loan, prior to taking such action
  • Regular information about the loan (at least on an annual basis) in the form of a statement setting out details of the payment transactions on the loan during the period since such information was provided (or the date the loan was advanced to you, if no such information has been provided previously) and amounts outstanding under your loan
  • Information on options available to you for help and assistance, including sources of free independent advice. 

The above is for your information only.

What is the Bounce Back Loan Scheme?
  • The BBLS is a government-backed guarantee scheme, which may allow you to borrow money in these circumstances. The guarantee provides us with a full guarantee, should you fail to repay the loan following a demand by us. The provision by the UK Government of this support does not imply any endorsement or warranty of us from the Secretary of State for Business, Energy and Industrial Strategy or the UK Government.
  • The Bounce Back Loan Scheme is not subject to the usual consumer protections that apply to business lending, and as such will not have the benefit of the protection and remedies that would otherwise be available under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974.

We always try to give the best possible service. If, however, you want to make a formal complaint to us, you can find more information on our complaints procedure and the Financial Ombudsman Service here.

Ready to apply for a Bounce Back Loan?

You’re in the right place – click below to get started. To keep our systems running smoothly and give all our customers an equal opportunity to make an application, we’re using a queuing system. The queue limits how many people can access our application form at the same time. Once you click ‘Apply online now’, you’ll be taken to our queuing page and see where you are in the line. At very busy times we may need to temporarily close the queue.

Once you’re in the queue, if you want to, you can enter your email address to receive an email letting you know that it’s your turn – so there’s no need to wait around.

When you reach the front of the queue, you’ll have ten minutes to enter the application process. We’ll let you know if your application has been accepted as soon as we can.

Just to let you know, we may then run additional checks on your business, which can change our decision on your loan. 

Need to continue with your application?

If you’ve already set up your Bounce Back Loan username and password, or you’ve had an email from us asking you to resume your application and review your loan offer, you need to click here to carry on.

If you have not set up your log in details or received this email, you need to click ‘Apply online now’ above.

Apply to top up your Bounce Back Loan

You can now top up your existing loan if you’re still in need of funding as a result of the pandemic, and your original Bounce Back Loan was less than the maximum you could have applied for. Full details from the British Business Bank can be found here.

Click here to get started

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We’re here to help

If you have any questions about the BBLS or need help applying, read through our help page or get in touch with us on 0203 402 8140 between 8am and 6pm, Monday to Friday. We are receiving a lot of calls while the pandemic continues – so you may have to wait to speak to us. If you need to visit us in store, please follow the social distancing guidelines.

More information about our Business Banking

For all the details on business banking with us, click here to read through Our Service Relationship with Business Customers.

Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. 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. Visit