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Bounce Back Loan Scheme

The Bounce Back Loan Scheme (BBLS) is a new government scheme introduced to support businesses across the UK who are experiencing lost or deferred revenues as a result of the coronavirus pandemic, leading to disruptions in their cashflow. The scheme allows businesses to apply for borrowing between £2,000 and £50,000 (up to a maximum 25% of annual turnover).

If you’d like to borrow more than £50,000 you should consider the Coronavirus Business Interruption Loan Scheme.

Who can apply

The Bounce Back Loan Scheme is available to existing Co-operative Bank customers.

All sectors can apply excluding:

  • Banks, or Building Societies
  • Insurance companies
  • Public sector organisations, or state-funded primary/secondary schools,
  • Individuals other than a sole trader or partner acting on behalf of a partnership.
  • Pension schemes

You can’t take out a Bounce Back Loan if you've already borrowed under the Coronavirus Business Interruption Loan Scheme (CBILS). However, if your CBILS loan is for £50,000 or under, you may be able to apply to refinance this into a Bounce Back Loan. Please contact us for more details.

How the Bounce Back Loan works

With a straight forward application process and quick access to funds you can apply to borrow between £2,000 and £50,000 (up to a maximum 25% of annual turnover).

Paying back the Bounce Back Loan

You don’t have to make any repayments for the first 12 months of the loan, and the Government covers the interest payments on your loan for the first 12 months.

The interest rate for this loan 2.5% per annum and the repayment term is 6 years from drawdown, with no early repayment charges

The Scheme offers the lender a 100% government guarantee but the borrower always remains 100% liable for the debt.

More information you should know about your Bounce Back Loan

We won't charge you any fees

We won’t charge you any fees in connection with your Bounce Back Loan (including if you're in breach of your loan agreement) or default interest (although if you miss a repayment you will continue to owe interest on the amount of the loan outstanding).

You can repay early at any time

You can repay your Bounce Back Loan at any time, and we won't charge you early repayment fees for doing so.

There are risks associated with not repaying your Bounce Back Loan

If you don’t repay your loan, we may disclose information about you and your account to credit reference agencies, which may negatively impact your ability to obtain credit in the future.

We could also require the loan amount, plus interest, to be paid back to us immediately.

We'll give you information during the life of your Bounce Back Loan

If you take out a Bounce Bank Loan with us, we'll take into account your information needs and give you information in a way which is clear, fair and not misleading.

We'll provide you with the following information in relation to your Bounce Back Loan:

  • if you miss a repayment, timely, clear and adequate information so you'll understand the amount missed, what can be done to remedy this, by when, and what impact this has (if any) on your future repayments;
  • a yearly statement setting out details of the payment transactions on the loan during the period since the last statement (or since we paid the loan to you if it is the first statement) and the amounts outstanding
  • if you breach your loan agreement, provide you with information about any action we intend to take as a result before we do so; and
  • options available to you for help and assistance, including sources of free independent advice.

We'll take action if you're in difficulty


  • monitor your repayments during the life of your Bounce Back Loan and take appropriate action where there are signs of actual or possible repayment difficulties;
  • make appropriate adjustments to ensure your circumstances are accommodated throughout the life of your Bounce Back Loan if we identify that you're vulnerable or believe you may be vulnerable; and
  • give you a reasonable period to remedy any breach if you default under your Bounce Back Loan, and we won't treat this breach as an event of default if you remedy the breach during the period we give you to do so.

You can make complaints in relation to your Bounce Back Loan (although we hope you won't feel the need to)

If you have a complaint regarding your Bounce Back Loan, please telephone us on +44(0)3457 213 213 Call charges or write to Customer Response, The Co-operative Bank plc, 2nd Floor, Balloon Street, Manchester, M60 4EP. We'll always do everything we can to resolve your complaint straight away. Where this isn't possible, we'll keep you informed of our progress until the complaint has been resolved.

If you're still unhappy with our response, you may be entitled to refer the complaint to the Financial Ombudsman Service, Exchange Tower, London E14 9SR or telephone +44(0)300 123 9123 or email: complaint.info@financial‑ombudsman.org.uk.

For more information visit: www.financial‑ombudsman.org.uk. The Financial Ombudsman Service is a free service set up to help resolve individual disputes between customers and businesses providing financial services in the United Kingdom.

Apply for a Bounce Back Loan

Check you're eligible

To apply, you and the key parties must:

  • be 18 years or over
  • be a UK resident
  • be an account signatory with authority to borrow on behalf of the business
  • have a current account with The Co-operative Bank
  • require the lending for business use
  • confirm that your business aligns to our Ethical Policy.

You must also be:

  • able to self-certify that your business has been adversely impacted by the coronavirus (COVID-19)
  • confirm you’re not currently using a government-backed Coronavirus loan scheme (unless using BBLS to refinance a whole facility)
  • be a UK resident, with a business or registered charity based in the UK
  • able to confirm your business was established on or before 1st March 2020
  • confirm you’re not in bankruptcy, liquidation or undergoing debt restructuring
  • able to confirm that your business generates more than 50% of its turnover from trading activity (Further Education establishments and registered charities are exempt)
  • able to confirm your business is not subject to collections or collective insolvency proceedings – this is part of The Co-operative Bank’s eligibility criteria.

Your application is subject to eligibility criteria being met.

We aim to give you a decision within 2 business days, once all information has been received. Occasionally, we may require additional information depending upon your circumstances.

If you're a personal current account customer you are eligible to apply under the BBL Scheme, however you must apply for a business current account first.

Ready to apply?

We’re currently only accepting CBILS and BBLS applications from customers who have a personal or business current account with us. If The Co-operative Bank does not already provide your main business or personal current account please speak to your main bank or visit the British Business Bank for a list of accredited lending providers. We’re not currently able to process any CBILS or BBLS applications if you do not have a current account with us.

If you’re a personal current account customer and want to open a business current account to apply for CBILS or BBLS then you’ll be our key priority.

Please ensure you read the important documents below and save copies of them for future reference

  • We only require one signatory to sign to progress this application. We'll ask you to sign any offer in accordance with your account mandate.
  • Apply now

    Important documents

    You must read these important documents below and save a copy for future reference

    Bounce Back Loan Terms and Conditions

    Download Bounce Back Loan Terms and Conditions PDF

    Standards of Lending Practice

    Download Standards of Lending Practice PDF

    How we use your personal information

    Download How we use your personal information PDF

    If you aren't eligible

    If you aren't eligible for a Bounce Back Loan, you may still be able to apply for our usual range of lending or the Coronavirus Business Interruption Loan Scheme.

    View our business lending hub


    The Bounce Bank Loan Scheme (BBLS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on BBLS and the list of participating lenders can be found on the British Business Bank website: www.british-business-bank.co.uk

    Please note that Bounce Back Loans aren’t subject to the usual consumer protections that apply to business lending. This means you won't have the benefit of the protection and remedies that would otherwise be available to you under the Financial Services and Markets Act 2000, or the Consumer Credit Act 1974. If you're in any doubt as to the consequences of this, we recommend you seek independent legal advice.

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