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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
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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 -
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
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