Bounce back loans

Pdavey5555

Please can someone advise me if i would qualify for the bounce back loan scheme, I have had a ltd company since jan 16th 2020, I am not entitled to claim anything other than universal credit, this Loan scheme would really help my business, can someone advise please????????

Jeremy535897

Look at this:
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/

Pdavey5555

The problem is I don’t have a year accounts so I don’t no if they take that into account???

Jeremy535897

The only way is to ask.

Pdavey5555

Would I need to ask the lender then I guess 

Hermann

I think you need a historic Tax Return available to apply, anyone been through the process able to confirm?

Jeremy535897

Yes, that is the best bet. 

Grumpy_chap

If you started your business in January, then using the link that @Jeremy535897 posted, the following part is looking positive for eligibility "is engaged in trading or commercial activity in the UK and was established by 1 March 2020".  Obviously you still need to satisfy the other criteria.  Key here is whether you merely set up your business in January and were getting ready to start trading, or whether you set up and hit the ground running with fee-paying work straight away.

Pdavey5555

I set up in jan but due to all of this it has stopped me after a month or so, I am still doing bits now but no where near as much because of costs etc

Grumpy_chap

Have you assessed your case against the eligibility criteria set out in the link provided by @Jeremy535897?

Jeremy535897 said:

Look at this:
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/

Pdavey5555

Yea I meet the criteria just wasn’t sure if they would ask for proof of accounts?