Questions you may have about Bounce Back Loans

Pay As You Grow options were made available to you once you started to repay your Bounce Back Loans, from 12 months after it was first drawn down.

Yes. Under Pay as you Grow (PAYG), you can extend your original 6 year term to 10 years.

Note that this will increase your repayments and the total amount you owe as interest costs increase if you repay your loan over a longer period.

Yes. Under Pay as you Grow (PAYG), you can apply for a 6 month Capital Repayment Holiday, up to 3 times during your loan term. During this repayment holiday, you'll only make interest payments.

You can also request a single 6 month Capital & interest repayment holiday. You won't make any payments during this time, but interest will continue to accrue.

You can apply for multiple PAYG options, but we’ll process each request separately. Allow 2 working days after returning your loan documents for us to process your request.

Pay As You Grow options could provide flexibility for you to meet your repayment obligations.

If you’re still concerned about making your repayments, please visit our website.  You'll find help and support on what you can do if you're worried about finances. There's also a list of organisations who can give you free advice. 

If you've closed your loan servicing account or your business current account, you won't be able to apply for all PAYG options online.

Once you’ve returned your loan documents, allow 2 working days for us to process your request.

You'll be able to access our online service using your Anytime Internet Banking login details.

If you don't have Anytime Internet Banking, you'll be able to apply by completing an online application form.

If you've closed your loan servicing account or your business current account, you won't be able to apply for all PAYG options online.

No, applying for a PAYG option will not change the interest rate of your loan. The interest rate will remain fixed at 2.5%. However, the total amount of interest you pay will increase if you choose to extend your loan term. Details of any increased interest costs will be provided if you choose to take a PAYG option.

If you have a Bounce Back Loan and your business is still trading you are eligible to apply.

If you have Anytime Internet Banking, you'll just need your login details to get started.

If you don't have Anytime Internet Banking, you'll need:

your email address and a UK mobile number

the account number and sort code for your main bank account or Bounce Back Loan account

 the balance on your Bounce Back Loan

details of any PAYG options that you have already taken

If we're unable to proceed with your PAYG request, we'll get in touch via email to tell you why, and what you can do next. 

If we are unable to proceed with your PAYG request online, we will show you a screen explaining why this is the case. If the reason requires us to get in touch with you, we will make contact by phone and/or email within 5 days of your application. You can also contact your Relationship Manager if you have one, or use the ‘Chat to Cora’ button on this page. 

Details of your PAYG choices are shown in your Anytime Internet Banking account. You can see the status of any requests you have made and the options that are available to you. 

If you don’t have access to Anytime Internet Banking then please contact your Relationship Manager if you have one or use the ‘Chat to Cora’ button on this page.

After you have signed and returned your loan documents and the option has been completed, log back in to Anytime Internet Banking see your loan and available options.

We’ve put in extra support if you have difficulty applying online due to a vulnerability. A vulnerability could affect you permanently or temporarily and may include:

physical disabilities

accessibility issues

cognitive difficulties

language barriers

life events (for example, domestic or financial issues)

When you begin your application online, you can tell us if you find it difficult to apply online. We’ll be back in touch within 5 working days to help. Or, contact your Relationship Manager or use web chat to ask for support.

During your Capital Repayment Holiday, you will need to make interest payments. 

Unlike your regular repayments, these interest payments will be for different amounts and on different days.

We will send you an email 14 days before each interest payment in relation to your Capital Repayment Holiday to let you know how much you need to pay and the date that the payment is due. We will use the email address you used in your PAYG application.

We will charge these interest amounts to your business account, so please make sure there is enough money in the account.

If you don't receive an email, please check your junk or spam folder and if you still haven’t received the email, please speak to your usual bank contact.

You can apply for a Loan Servicing Account using our digital form.

You will need to have your Bounce Back Loan account number and sort code on hand to enter these details correctly when asked for these on the second page of the form.

Yes, these will be emailed to you from adobe@adobesign.com. You’ll need to electronically sign and return these documents to us by email to receive your PAYG choice.

These will be emailed to you from adobe@adobesign.com. You’ll need to electronically sign and return these documents by email to us to activate your PAYG choice.

You'll need to return your electronically signed documents within 7 days. After this we’ll cancel your request and you'll have to reapply.

After you submit your PAYG request, we'll send you your documents to electronically sign. This will be sent from adobe@adobesign.com.

If you haven't received this email, please check your junk or spam folder.

If you think you may have provided the incorrect email address, please contact your Relationship Manager if you have one, or use the ‘Chat to Cora’ button on this page.

To access your documents, you'll need to enter a unique passcode for additional security. We'll send this to the mobile number you provided. We'll give you the option to receive this as a text message, or via a voice call.

Check the phone number you supplied making your PAYG application. If it is correct, ensure you're connected to your mobile network.

If you still haven’t received it, please contact your Relationship Manager if you have one, use the ‘Chat to Cora’ button on this page.

After you submit your PAYG request, we'll send you your documents to electronically  sign. This will be sent from adobe@adobesign.com.

If you haven't received this, ensure you check your junk or spam folder.

If you think you may have provided the incorrect email address, please contact your Relationship Manager if you have one, or use the ‘Chat to Cora’ button on this page. 

You can switch your Business Current Account to another provider while retaining your Bounce Back Loan with us.

When your repayments started, your interest charging frequency changed from monthly to quarterly. Interest continues to accrue daily on the balance you owe, but we debit it from your loan account quarterly, instead of every month.

This means you'll pay slightly less interest across the life of the loan and your final instalment will reduce as a result.

You are able to use another provider to manage your business banking while retaining your Bounce Back Loan with us.

If you've closed your loan servicing account or your business current account, you won't be able apply for all PAYG options online.

Your Business Bounce Back loan statement is generated annually and will be shared with you via email or post depending on the preferences you have selected.

Loan repayments started 12 months* after you took the original Bounce Back. We sent you a repayment schedule outlining your options, around three months before your first repayment was due, unless you subsequently applied for/ were provided with PAYG support.

You can find your first repayment date and amount on your Bounce Back Loan documents.

If you have a Business Current Account or Loan Servicing Account with us, we'll have set up regular monthly repayments from your account. Repayments started on the first repayment date and will continue every month until the loan is repaid unless you take a PAYG holiday.

If you don't have a Business Current Account or Loan Servicing Account, you'll need to set up regular monthly repayments to your Bounce Back Loan. Please arrange this with your current bank.

Yes. You can pay in a lump sum at any time without early repayment charges.

If you have made a one-off repayment or any additional payments on a regular basis, we will keep your monthly repayments the same which means you'll pay the loan back sooner. If you want to make a one-off repayment and reduce your monthly payments, please contact us via webchat or get in touch with your usual bank contact.

Pay As You Grow options could provide flexibility for you to meet your repayment obligations.

If you’re still concerned about making your repayments, please visit our website.  You'll find help and support on what you can do if you're worried about finances. There's also a list of organisations who can give you free advice. 

Using the PAYG options won’t affect your credit score, though any missed payments and continued arrears WILL impact your credit score.

Late or missed payments will have a different impact on each person’s credit score depending on the situation. It's important to make your repayments on time and make efforts to catch up amounts that you have previously missed payments against.

If you hold a Bounce Bank Loan or other lending products with us and are struggling financially, you can find out more about the support available here. This page includes links to dedicated debt charities who you can contact for free and confidential advice.

Monthly repayments will include both capital and interest based on the original loan amount (plus any top-up) over the loan term. 

If you have made a one-off repayment or any additional payments on a regular basis, we will keep your monthly repayments the same which means you’ll pay the loan back sooner. If you want to make a one-off repayment and reduce your monthly payments, please contact us via your usual bank contact before you make the payment.

If you have applied for a Pay as you Grow (PAYG) option, the revised monthly repayment will be adjusted accordingly based on your outstanding loan balance, taking into account any one-off payment or additional payments you have made prior to apply for a PAYG option.

Your repayment amount can be found in your loan agreement. It is also detailed in the repayment communications that we send to you prior to your first repayment. 

The date of your monthly repayment cannot be changed. This must remain in line with the date originally set.

You can find your first repayment date and amount on your Bounce Back Loan documents.

You can use the tool below to help manage your repayments:

Create a cash flow forecast with our simple template

The Bounce Back Loan scheme was a government initiative to support small and medium-sized businesses struggling with the impact of coronavirus. The government provided banks like NatWest with a guarantee for 100% of the loan.

The 100% government guarantee is provided to cover any losses the lender makes and does not cover any losses that you might suffer if you are unable to meet your payment obligations.

With a Bounce Back Loan, you could borrow from £2,000 up to £50,000 (to a maximum of 25% of your annual turnover). It was offered over a fixed 6 year term, though there are no fees if you want to repay the loan early. The loan was 100% guaranteed to the lender by the government, with no personal guarantees needed. However, the loan holder remained 100% responsible for the debt.

The Bounce Back Loan Scheme was provided through a government scheme and does not benefit from the same level of consumer protection as our other loans.

Under CBILS, you could borrow between £50,001 and £5m over a term of up to 6 years. No early repayment fees applied . The government guarantees 80% of the loan to the lender. However, the loan holder remains 100% responsible for the debt and security may have been required. Loans were subject to our affordability criteria.

Both offered an initial 12 month repayment holiday (this may mean you pay more interest over the loan term).

At the time you took out your Bounce Back Loan your loan had a 6 year term.

Any Top-Up amount received since your initial loan will expire on the same date as your original Bounce-Back loan.

The government announced Pay as you Grow (PAYG) options, which includes an ability to request an extension of your loan term from 6 years to 10 years.

PAYG  was made available from the end of your initial 12 month repayment holiday.

 Your Bounce Back loan has a fixed interest rate of 2.5%.

When you took out your Bounce Back Loan there was an initial 12 month repayment holiday.

The government announced Pay as You Grow (PAYG) options which included an ability to request further repayment holidays during the life of your loan. Two types of repayment holidays are available:

1. 6 month capital repayment holiday, where you would just pay interest costs during this repayment holiday. You can request this type of repayment holiday up to 3 times.
2. 6 month full repayment holiday where you would make no repayments (but interest would continue to accrue). You can request this type of repayment holiday once.

These PAYG options were made available at the end of your initial 12 month repayment holiday.

The latest British Business Bank guidance states the State Aid should include the Bounce Back Loan facility amount and the calculated Business Interruption Payment paid by the Government.

Some customers were sent a communication advising of a correction to the State Aid amount outlined in your Bounce Back Loan agreement.

These corrections do not affect your Bounce Back Loan repayments.

Please retain your records of any State Aid arising under this measure.

The Bounce Back Loan Scheme (BBLS) closed to new applications on 31 March 2021 including applications for Top-Ups.

If you have a query about BBLS, please contact us using your usual bank contact.

After you completed the first stage of your application, we sent you two emails.

The first was a confirmation of the submission, sent from no-reply@mail.olafs.natwest.com. The second email contained  your application reference, and a link to complete and submit your documents online. This was sent by echosign@echosign.com.

The application reference starts with 'CS'. Please keep a note of this reference, youl need it to access your completed secure application documents later.

You can no longer apply to switch your CBILS loan into the BBL Scheme as the BBL scheme is now closed to new applications.

Top-Up is now closed.

You could have applied to borrow up to an overall amount of £50,000 across the original Bounce Back Loan and the Top-Up combined. You would not have been able to borrow any more than 25% of your annual turnover (stated on your original Bounce Back Loan application). For example, if you originally were entitled to £50,000 but had only applied for £40,000, you could have  applied for the remaining amount of £10,000. The minimum amount you could borrow for a Top-Up was £1000.

The Top-Up term will end on the same date as the term of your original Bounce Back Loan.

You did not need to make capital repayments until the date that your repayment holiday on your Bounce Back Loan ended – 12 months after the initial draw-down of the original loan amount.

The government covers the interest on the Top-Up to the date where your original interest-free period on your existing Loan ends – 12 months after the initial draw-down of the original loan amount.

The interest rate on the Top-Up is 2.5%, the same as your existing Bounce Back Loan.

Top-up is now closed for new applications. You were only able to apply for one Top-Up.

You can extend the term of your Bounce Back Loan from 6 years to 10 years by applying for a term extension.  Please see further information  on how to apply for this option and how it will affect your loan by going to our PAYG pages.

You can apply for a 6 month Capital And Interest Repayment Holiday and up to three 6-month Capital Repayment Holidays at any time during the life of the Bounce Back Loan by applying for Pay As You Grow.  Taking a loan repayment holiday may result in it taking longer to repay the loan and cost more in the long run.

If you want to apply for a PAYG option then please see our Manage your Bounce Back Loan pages.

Under Pay as you Grow (PAYG), you can apply for a 6 month Capital Repayment Holiday, up to 3 times during your loan term. You must wait for your exisiting repayment holiday to end before you can apply for another one. Taking a loan repayment holiday may result in it taking longer to repay the loan and cost more in the long run. If you’re still concerned about making your repayments, you'll find help and support on what you can do if you're worried about finances on our support hub.