Bounce Back Loan Scheme (BBLS)

The deadline for applying for a BBLS loan was 31 March 2021. Therefore, the scheme is now closed to new applications.

The Bounce Back Loan Scheme (BBLS) was a government scheme to support UK businesses experiencing lost or deferred revenues as a result of the coronavirus pandemic, leading to cashflow disruption.

How the Bounce Back Loan works

Paying back the loan

You won't pay any fees or interest for the first 12 months. After 12 months the interest rate will be 2.5% per year.

We won't charge you any default interest in connection with your Bounce Back Loan, even if you breach your loan agreement, but if you miss a repayment you will continue to owe interest on the amount of the loan outstanding.

The repayment term is 6 years from drawdown, with no early repayment charges

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.

Pay As You Grow

The Government has announced Pay As You Grow options for Bounce Back Loan borrowers to help businesses get back to regular trading. Pay As You Grow could give you more time and flexibility to pay back your loan.

Find out more about Pay As You Grow options

Early repayments

In order to complete a full early settlement, we require a letter signed in accordance with the account mandate* to be emailed to or to be posted in for the attention of Government Backed Lending to:

Government Lending Backing

No.2 Cathedral Square

The Cloth Market

Newcastle Upon Tyne


For partial early settlements you can make a transfer to your loan account over the phone via the telephony team on 03457 213 213 call charges or by sending a letter signed in accordance with the account mandate* to be emailed to Alternatively you can post this for the attention of Government Backed Lending to the above address.

You can also overpay your loan by setting up a regular standing order for additional payments from your Co-operative Bank account, over the phone or online.

For each of these options, there is no early repayment fee.

*If the loan is a partnership account it needs to be signed by all partners, not just as per the mandate.

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

If you've taken 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:ƒ??

For more information visit: www.financialƒ?? 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.

Important documents

Important documents for customers who have opened a BBLS loan.

Download Bounce Back Loan Terms and Conditions PDF

Download Standards of Lending Practice PDF

Download How we use your personal information PDF

Other lending options

Now the bounce back loan scheme has closed, we're no longer accepting applications but you may still be able to apply for our usual lending products.

View our business lending


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

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.