Bounce bank loan - discharged bankrupt

deathvalley

I have a new limited company formed October 2019. 
I have a cashplus business account. They do not offer bounce bank loans.

I cannot access this loan, because I cannot find a bank that will give me a business account ( I dont pass eligibility because I've been bankrupt in the last 6 years) . 

I have basic personal accounts with Santander and coop. 

I am no longer longer bankrupt or I would not be able to operate as a director of a limited company. I'm the only employee and dont qualify for any other schemes ive not taken a wage yet but self funded the company through directors loans and thats the only money ive been pulling back out of the company . This was my last hope  

[Deleted User]

 Not all banks require you to have a business account. A personal account will do for some. Look at the article on the main website for each banks requirements 

Darius_2

You can apply for bounceback loan from HSBC without having an account with them. You can open a temporary feeder account (Bounce Back Loan Feeder Account). To quote their website: "This account will be used just to draw down the funds from the Bounce Back Loan, and then make a single payment of these funds to an existing account (subject to our standard transaction checks). We will then close the account. You will not be able to use this account for your day-to-day banking or to make loan repayments, so you should make other arrangements to handle the loan proceeds and to carry out your other day-to-day banking. We will not charge you for this account."

nickologjam

Being bankrupt within six years definitely does not preclude you from a obtaining a business account elsewhere.
I can speak from experience that Starling and Barclays allow it but it obviously depends on your specific credit history/rating.

alansmith87

I am in kind of the same boat I had a dro in oct 2014 which was discharged In oct 2015. I have a personal account with natwest so I applied for there feeder business account they came back with an email saying they found action that involves bankcruptcy on my file and wanted proof of being discharged. I sent an email I got from the insolvency group and didnt hear back to confirm this was ok but couple days later they opened a foundation business account. I applied yesterday for the bouce back loan and got rejected me and cancelled app because they said I had an undischarged bankcruptcy on my credit file! They use Equifax so i signed up and cant see where it says undischarged but does say settled. I am at loss what to do there was no contact information on the rejection to raise a dispute I have already showed discharged so I could get my feeder account and feel like I am going round in circles. I thought credit checks was not carried out anyway? Any advise please 

Lauralou20

alansmith87 said:

I am in kind of the same boat I had a dro in oct 2014 which was discharged In oct 2015. I have a personal account with natwest so I applied for there feeder business account they came back with an email saying they found action that involves bankcruptcy on my file and wanted proof of being discharged. I sent an email I got from the insolvency group and didnt hear back to confirm this was ok but couple days later they opened a foundation business account. I applied yesterday for the bouce back loan and got rejected me and cancelled app because they said I had an undischarged bankcruptcy on my credit file! They use Equifax so i signed up and cant see where it says undischarged but does say settled. I am at loss what to do there was no contact information on the rejection to raise a dispute I have already showed discharged so I could get my feeder account and feel like I am going round in circles. I thought credit checks was not carried out anyway? Any advise please 

Have you managed to get this rectified? I'm in a similar situation and I am just being ignored by the bank. 

John2516

Hello,

I am in the same situation,was discharged from bankruptcy 3 years ago and Natwest have rejected my application due to them saying its undischarged.

Really frustratiting and business is suffering.

I have took it took head office as they have told me they wont lend until the 6 years is up.

But my argument is that its a soft check for identity and it does not say on the British Business Bank or Government websites that you cant apply.

Its wrong what there doing and putting peoples lively hoods at risk.

T&S's clearly state that if you are going through liquidation or bankruptcy they you cant.

So why on earth are they saying the same thing to people that are not or discharged???

I dont get it!!!

Help Please.