The bounce back loan scheme allows businesses to borrow between £2,000 and £50,000 to help them through the pandemic.
These loans are backed by the Government and while no repayments are due within the first 12 months, they will need to be repaid eventually.
However, HM Treasury confirmed on Monday that businesses who took out a loan will now have greater flexibility to repay their debts.
The Chancellor s Pay as You Grow repayment flexibilities now include the option to delay all bounce back loan repayments for a further six months, meaning businesses can choose to make no payments on their loans until 18 months after they originally took them out.
The CMA has stopped Clydesdale Bank from forcing small business customers to open a business current account with it to get a COVID-19 Bounce Back Loan.