Bounce back loan success

MrsO13

Hi, a question on behalf of someone else...
How are people getting on with the success rate of the bounce back loan approvals? 

Thank you in advance 

Grumpy_chap

Any response you see on here is likely to be skewed towards the negative.  Those that found the process perfect tend not to go to forums about it, while those that find fault are more likely to be vocal.

Eligibility and success for BBLS depends on individual criteria and we would need much more information to provide meaningful comment.  Your friend may find more helpful responses if they put their own thread and more details of their position.

khanji17

To be honest, for one of my limited companies with a business account with Lloyds for 4 years, I applied to CBILS before, got a call after a month saying, its better if I apply for BBL instead. I applied the same day for BBL,not expecting much as had a bad experience with CBILS, the money went into my account in 2 working days, no email no text, no agreement to be signed. I just checked my bank account on 16th and saw that the money was in since 14th. I have read really good reviews here about Lloyds, but HSBC have long delays. Not too much information out there about any other banks.

[Deleted User]

I did one for my business as it looks like some of our competitors will be going bust so it can be used to buy up assets without touching the money we have retained, itnis currently sat in savings account and either way I will repay it before the interest kicks in.
I applied on Monday 18th, got the email document to sign Tuesday 19th and the money was in the account Wednesday 20th. The loan is with HSBC who we also bank with, we have no debts, it is a limited company.

dunstonh

Based on comments here, Lloyds are quick (typically 24 hours) except their database of companies seems to be from 2018 or earlier (although it doesnt seem to matter on outcome even if you have moved address).   Starling are picky and rejecting a high volume.  However, people using Starling are likely to be in unusual circumstances.  HSBC are slow.  We dont see many comments about Natwest and Barclays suggesting they are at a similar level to Lloyds.

rkgrg

Does anyone here know about HSBC Bounce Back Loan delay and what options I have to speed it up? Its been 2 weeks since signed documents (e-signed). No email, No phone call, No text message and No funds arrived. Government website says it can be with 2-3 days funds can be ready for use. Am lost.

rapunzelz86

rkgrg said:

Does anyone here know about HSBC Bounce Back Loan delay and what options I have to speed it up? Its been 2 weeks since signed documents (e-signed). No email, No phone call, No text message and No funds arrived. Government website says it can be with 2-3 days funds can be ready for use. Am lost.

Someone on Twitter said they had joy by emailing the CEO, joy as in paid the next day. 
The email is noelpquinn@hsbc.com

lurch250f

I'm with Lloyds didn't expect to get the loan tried had money in 36 hours only had 1 email off them saying we happy to lend you after some checks next thing 12k on account debating to pay my 5 personal loans off and just have the bbl to pay witch is 150 cheaper to what I'm paying now so to me that is a bounce back for my company that o can control more cash to this account to pay company debt off quicker