Bounce back loan

[Deleted User]

https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/

Shows the requirements of each bank. Some require you bank with them and/or use a business account. 

Mrsgreenwood04

I applied for a temporary feeder account with HSBC and still haven’t heard 😩 I am worrying sick. We will not survive without this loan. Can someone please help 

jonesMUFCforever

Mrsgreenwood04 said:

I applied for a temporary feeder account with HSBC and still haven’t heard 😩 I am worrying sick. We will not survive without this loan. Can someone please help 

Sorry you are not allowed to ask for funding here. You must wait for your bank to come back to you.

hansolo2000

Mrsgreenwood04 said:

I applied for a temporary feeder account with HSBC and still haven’t heard 😩 I am worrying sick. We will not survive without this loan. Can someone please help 

If it’s  any consolation you are one of many many who will not survive this crisis 

when will the uk do helicopter drops why no they give everyone £5k each to help with the fallout from the criss like all the other governments are doing

John_

spencerrothchild said:

mcpitman said:

Eligibility

You can apply for a loan if your business:

• is based in the UK
• was established before 1 March 2020
• has been adversely impacted by the coronavirus

That’s all very well but most people are getting turned down even if they qualify 

They’ve possibly read your posts on here and know that you don’t intend to repay it.

thumpthump

Started being self employed in September 2019. I've done a vat return but no tax return, I use an online "bank" for transactions cashplus. They don't offer anything as they are not yet a bank. Seems I'm kinda screwed for the bounce back loan ☹

hansolo2000

How can they tell if somebody just started and predict huge earnings in the first year?

thumpthump

This is what has been annoying me.
My vat bill was 4k. Sept to Jan.
And it was paid on time! Surely HMRC would look at all the figures and have and idea of how profitable the business is. 
Maybe I'm wrong I just keep feeling that I'm running into a brick wall everywhere I turn ☹ and HMRC & the banks are really unhelpful.

hansolo2000

thumpthump said:

This is what has been annoying me.
My vat bill was 4k. Sept to Jan.
And it was paid on time! Surely HMRC would look at all the figures and have and idea of how profitable the business is. 
Maybe I'm wrong I just keep feeling that I'm running into a brick wall everywhere I turn ☹ and HMRC & the banks are really unhelpful.

so many people are saying they are hitting a brick wall at every turn

Onlytoplabels

Regarding Santander Bounce back loan - I have a standard personal current account with Santander which I have used for by business and personal transactions for many years.
The criteria appears to say that you do not need a business account  -  I have tried to apply for Bounce back loan  yet on the registration page it asks for business account details - I fill in form using my standard current account, it asks for name on self assesment form which in my case is my personal name so I fill this in,  but then on next page it says account not recognized?
Tried several times but to no avail. Can any-one advise please?