We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Business bounce back loan
debthelp1
Posts: 79 Forumite
Hi all, I am wondering if I am entitled to apply for this loan with my situation as is......?
I set up a Limited company in January last year for my salary to be paid into as I was contracting for all of 2019 and this was deemed a better way than going down the PAYE or Umbrella company route.
As it was just for that purpose I set the business bank account up with the online service, Cashplus. They are not yet a bank and therefore don't offer the govt backed loan so I'm wondering if I have any other options regards applying for the loan. I haven't been offered any work since the lockdown began so a loan like this for 12 months could really help me out at the moment.
Thanks for reading
I set up a Limited company in January last year for my salary to be paid into as I was contracting for all of 2019 and this was deemed a better way than going down the PAYE or Umbrella company route.
As it was just for that purpose I set the business bank account up with the online service, Cashplus. They are not yet a bank and therefore don't offer the govt backed loan so I'm wondering if I have any other options regards applying for the loan. I haven't been offered any work since the lockdown began so a loan like this for 12 months could really help me out at the moment.
Thanks for reading
0
Comments
-
You should have a turnover figure by now for the company for calendar year 2019. HSBC are the bank most likely to take on new customers, but it is by no means straightforward. Just look at some of the threads on this forum about bounce back loans to see how frustrating the process can be.
The FAQs for the scheme are here:
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/
0 -
Thanks have applied for an account with HSBC, Lloyds and Natwest aren't taking on any new customers at the moment.Jeremy535897 said:You should have a turnover figure by now for the company for calendar year 2019. HSBC are the bank most likely to take on new customers, but it is by no means straightforward. Just look at some of the threads on this forum about bounce back loans to see how frustrating the process can be.
The FAQs for the scheme are here:
https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards
