You can apply for Pay As You Grow (PAYG) options from 60 days before your first repayment date.
Pay As You Grow (PAYG) options were made available to you once you started to repay your Bounce Back Loans, from 12 months after it was first drawn down. You can apply for multiple PAYG options, but we can only process one application at a time. Allow two working days after applying before submitting an additional request.
PAYG options may increase repayments and the total amount you owe as you’ll pay more interest if you repay your loan over a longer period. Options are subject to approval.
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.
If you are struggling with your finances, please see our website for support. You can also find a list of organisations who can give you impartial advice on this page.