Self employed bounce back loan

daryl82

Hi I’m wondering if anyone can help me, I’ve been told I can get a bounce back loan but my banks are saying I need a business account, I don’t own a business therefore I don’t have a business account, I am self employed and work for a business. 
is there anyway around this? 

obrienkenobi

Hi Daryl
Who is your personal account with?

[Deleted User]

 Bounce back loans are for businesses? 

daryl82

Apparently not I’ve read it and my boss has also told me The same 

daryl82

obrienkenobi said:

Hi Daryl
Who is your personal account with?

It’s with Lloyd’s I also use Barclays 

gt94sss2

Have a read of this page and the included table 
https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/

Grumpy_chap

The self-employed can be eligible for BBLS.
However, this is already a confusing thread and would benefit if there was greater clarity from the OP on exactly how he has structured his employment and outline other impacts and support already in relation to coronavirus.

daryl82

Grumpy_chap said:

The self-employed can be eligible for BBLS.
However, this is already a confusing thread and would benefit if there was greater clarity from the OP on exactly how he has structured his employment and outline other impacts and support already in relation to coronavirus.

I have only been self employed for a year, therefore I was not eligible for the 80% pay from the government, after seeing I was not eligible, it said I could apply for a bbl! I’m pretty confused myself 🙈

Grumpy_chap

I am still confused, because you say you are "self employed and work for a business" and that your boss told you about the scheme.
Have you reviewed the FAQ for the BBLS?
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/

[Deleted User]

 "That the business is a company or limited liability partnership incorporated or established in the UK, or tax resident in the UK."

 So how does that make individuals eligible? 

Grumpy_chap

Individuals are not eligible, but "business" includes sole-traders.
https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/