pay as you grow

If you’ve taken a bounce-back loan and are coming to the end of your first year, you may have concerns about your upcoming repayments…

the government has introduced three options to help with repayments

extend your
loan term...

You can request an extension of your loan term from six to ten years at the same interest rate of 2.5%

take one six-month repayment holiday...

Don’t pay anything for six months. This can be done once during the term of the Bounce Back Loan

interest only payments for six months...

Reduce your monthly payments by paying interest only up to three times during the term of the Bounce Back Loan.

note: all three options can be used at the same time, and all three options will mean the total amount you owe will go up.

we're here to help...

The government’s options have been created to offer flexibility in the way businesses can keep control of their repayments and remain financially stable as they start to recover from the pandemic. 

Your lender should get in touch to outline and discuss your options three months before your repayments are due to start.

For more information, call 0115 958 6872, email info@maffinancegroup.co.uk  or fill in the enquiry form.