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The Lancashire Enterprise Partnership has welcomed the new 'bounce back' loan scheme announced by chancellor Rishi Sunak.
Fully guaranteed loans of between £2,000 and £50,000 (up to a maximum 25 per cent of business turnover) will be made available to small businesses, with no repayments required within the first 12 months. Applications will be accepted from May 4.
Steve Fogg, chair of the LEP, said: "I am delighted the government has listened to businesses and extended the existing loan scheme.
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