Small Businesses can now get access to 100% taxpayer backed loans of up to £50k.
The aim of the loans is to release the backlog of credit checks by banks as it is currently taking too long to get a loan and businesses are collapsing in the mean time.
The scheme requires a two page self-certification form to be filled out online.
There will be no capital or interest payments due for one year to help businesses get back on their feet.
Further updates to follow.