BBL

If you are a sole trader and are unable to pay back a bounce back loan? Read here for getting help in pay back bbls. A bounce back loan is a type of loan offered by the UK government to small and medium-sized businesses affected by the COVID-19 pandemic. The loan is intended to help businesses access the capital they need to continue operating and to protect jobs. The loan is 100% government-backed and offers businesses access to finance of up to 50% of their annual turnover, up to a maximum of £50,000. The loan is available at a low interest rate, with no fees or early repayment charges. To be eligible, businesses must be based in the UK and have been negatively impacted by the pandemic. If you are a sole trader and are unable to pay back a bounce back loan, you may want to consider reaching out to the Acme Credit Consultant to discuss your options. Depending on your situation, they may be able to offer you a repayment plan or some other form of assistance. It's important to be proactive and communicate with the lender, as failing to make repayments on a loan can have serious consequences, including damage to your credit score and legal action. It may also be helpful to speak with a financial advisor or a debt counselor to get guidance on how to manage your finances and repay the loan. Visit here : https://acmecredit.co.uk/are-you-sole-trader-suffering-from-bounce-back-loan-repayments/