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Can't Pay Back Bounce Back Loan

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A bounce-back loan is a loan offered by the Government amid the Coronavirus pandemic, to help small businesses gain access to fast track, ‘emergency’ finance, borrowing between £2,000 and £50,000. You may use the loan to pay staff wages, directors included. It can also be used to help with rents and business rates, any monthly business costs or overheads such as phone and electricity bills. Finally, directors may wish to use it to refinance other business debts to lower the interest costs related. The loans are interest-free for the first 12 months and then have a 100% Government-backed guarantee for lenders. Once the eighteen months are up, there is an interest rate of 2.5 per cent per year and repayments can be stretched for up to 10 years.

Our firm advice is this. DO NOT run down the bounce back loan cash until there is nothing left to pay creditors, wages or the cost of liquidation.

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About us

Here at KSA Group, we specialise in delivering exceptional insolvency solutions to businesses and organisations across the UK and beyond. Based primarily in London, our company helps businesses both large and small achieve their maximum potential by helping them solve any problems they may be facing. We give outstanding advice to directors, creditors and stakeholders in any insolvency situation, allowing for better business management as a whole.

We as a company specialise in cash flow problems and how to solve them, the warning signs of a struggling company, the meaning of liquidation, help for businesses affected by Covid-19, guidance for worried directors, hospitality rescue, assessing numerous situations, how to close down a limited company and so much more. We have enough knowledge and experience within the insolvency industry to provide excellent service to clients from beginning to end.

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Articles/Press Releases

09/11/2023 - Why We Are Experts At CVAs!
Read Our Story Regarding This Rescue Mechanism
30/11/2022 - UK SME companies run by women are less likely to go insolvent than companies run by men.
New research from KSA Group shows that male-owned businesses were over 40% more likely to go into insolvency between October 2021-22 than those run by females.
19/02/2021 - Online Survey
Insolvency Practitioners KSA Group Ltd, through their website www.companyrescue.co.uk, have conducted a survey of their visitors since the beginning of 2021. The survey asked 5 basic questions.

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KSA Worried Director Guide 2020

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Latest Reviews

KSA Group

Thanks for the invite to the 'turnaround in the recovering economy' event. It was most informative with an interesting cross section of opinions, some contradictory, but certainly, thought-provoking.The new HQ was impressive and the hospitality excellent. I also appreciated the (free) advice from the KSA team whilst networking.Good luck in your new home

By esellit . - 07 November 2022

KSA Group

Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA. The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.

By Anon - - 24 November 2020

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Company details for KSA Group

KSA Group