Your Town Centre after lockdown


Here's what you need to know about the Government’s new Bounce Back Loans:

  • You can borrow between £2,000 and £50,000. Though the amount is capped at 25% of your total turnover (usually for calendar year 2019, or new businesses can estimate).
  • No interest will be charged and no repayments will need to be made in the first 12 months.  
  • After 12 months, all banks will charge a fixed 2.5% annual interest. This is far cheaper than a typical personal loan. 
  • You can repay the loan early without penalty. Or with some banks you can part-repay or overpay too.      
  • The loans are set up to last for six years. So that's a year interest-free and the rest at 2.5%. However, as you can repay at any time that gives you flexibility, of course, the sooner you repay once interest is charged, the smaller the overall cost. See how the loans are repaid.
  • The loans are unsecured. Secured loans include mortgages, where they can take your home if you don't repay. Here you don’t give security (the Government does) so it's far more difficult for them to take your assets if you can't repay.
  • Your business must have been established before 1 March 2020. It must also still be trading as a going concern (temporary cessation due to coronavirus doesn't matter) at the point of application – and the reason for any issues must be due to coronavirus.
  • Credit ratings (business or personal) won't impact your eligibility – so most should be able to get these loans. You don't need to prove the viability of your business and the application process is relatively straightforward. 
  • The loan will likely go on your business credit report, but not on your personal one.
  • At least eight banks are offering them. 
  • You need a business to set these up but don't need a business bank account. At least some of the banks offering these loans don't require you to have a business account with them. 
  • To apply for a bounce back loan, you will need to contact a bank directly and fill in a short online application. When filling in your application, you'll need details of your annual turnover, account number, the amount you want to borrow, a copy of your tax return and also to confirm that your business has been adversely impacted by coronavirus.

Recovery Framework 

In order for the town centre to recovery quickly from the effects of the COVID-19 crisis, we have started to develop the necessary capacity for recovery and then longer-term transformation. Working with the Institute of Place Management, we have developed a draft 4-stage COVID-19 recovery framework as illustrated below:

The framework will provide a coordinated and systematic approach to the management of the town centres recovery and improvement.

How to celebrate the 75th anniversary of VE Day in your own home

While we can't have the street parties many had planned to mark VE Day, there are still lots of ways to celebrate that won't break social distancing rules. So join in with Rochdale BID to celebrate the 75th anniversary of VE Day from the comfort of your own home.

The BID has put together a VE Day guide which you can view here: 



As we support one another through this second phase of lockdown, it is important that we continue to share the right information and official government guidance to help keep everyone in Rochdale safe.

The BID wishes to thank everyone in Rochdale for adhering to this temporary way of life. It is incredibly inspiring to see so many local people and volunteer groups pulling their resources together to look after the most vulnerable in our community. 


Useful Links 

UK Government – Coronavirus: latest information and advice

UK Government - COVID-19: guidance for employers and businesses

UK Government – Coronavirus business support

National Health Service - Coronavirus (COVID-19) 

Acas – Coronavirus advice for employers and employees

World Health Organization – Getting your workplace ready for COVID-19

If you have any queries regarding the support which his currently being offered, please don’t hesitate to contact me on 07811 278517.

Paul Ambrose

BID Manager

07 May 2020