Pay As You Grow (PAYG)
Repayment options introduced for Bounce Back Loans that allowed eligible borrowers to extend terms, take repayment holidays or move temporarily to interest-only payments.
Also known as: PAYG
Related terms
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Bounce Back Loan Scheme (BBLS)
The COVID-era government-backed lending scheme that enabled eligible small businesses to borrow through accredited lenders.
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Bounce Back Loan (BBL)
A loan advanced under the UK Government’s Bounce Back Loan Scheme during the COVID-19 pandemic, with a government-backed guarantee to the lender.
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CBILS loan
A loan made under the Coronavirus Business Interruption Loan Scheme, with a government-backed guarantee to the lender but repayment obligations remaining with the borrower.
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