Bounce Back Loans and PSCs

aswani

On the MSE website under Bounce Back Loans, it says that PSCs (Persons of Significant Control) are not excluded from these loans. Does anyone have an idea what that means?
Does it mean that the owner (eg. Director of a limited company) as well as a PSC (person owning more than 25% of shares) can both apply for a bounce back loan?

Needless to say, the MSE team will not answer my question because they don’t answer personal questions and they give me a page full of links to contact people for financial advice and counselling services. What they don’t seem to realise is that I’m asking for clarification of something THEY have written in THEIR site which is unclear to me. They should close down their email address if all they do is give a standard answer. I didn’t think Martin ran a company like this with people who don’t bother reading customers’ questions. 

dunstonh

On the MSE website under Bounce Back Loans, it says that PSCs (Persons of Significant Control) are not excluded from these loans. Does anyone have an idea what that means?

Basically, the decision-makers of the company.    If your confirmation date has been any time in the last 6 months or so, you would have had to file updated PSC information to companies house.

Does it mean that the owner (eg. Director of a limited company) as well as a PSC (person owning more than 25% of shares) can both apply for a bounce back loan?

PSCs are usually officers in small companies.  The most common scenario of being a director with 50% or 100% shareholding.

What is your scenario? - its easier to look at what yours is than go through all permutations, many of which will not apply.

I didn’t think Martin ran a company like this with people who don’t bother reading customers’ questions. 

Martin sold this site many years ago.    The Forum is here to provide shared resources with regular people posting.  

I think you totally misunderstand how this site works.