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Bounce back loan
Hi everyone!
im a sole trader but I did not register my company yet but I have started my trading June 2019 it’s real turnover is around £90000 - £100000
then I have successfully open my business account from Lloyds bank before 3 weeks and I applied for bounce back loan 45,000, money was credited to my account next day
after than I put my own £1000 check to my personal account that also credited to my personal account nex day I checked my Mobil bank wasn’t work and my account is blocked
now they send the message like my all accounts has been close within 2 months
please help me to solve
im a sole trader but I did not register my company yet but I have started my trading June 2019 it’s real turnover is around £90000 - £100000
then I have successfully open my business account from Lloyds bank before 3 weeks and I applied for bounce back loan 45,000, money was credited to my account next day
after than I put my own £1000 check to my personal account that also credited to my personal account nex day I checked my Mobil bank wasn’t work and my account is blocked
now they send the message like my all accounts has been close within 2 months
please help me to solve
0
Comments
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mjerald16 said:Hi everyone!
im a sole trader but I did not register my company yet but I have started my trading June 2019 it’s real turnover is around £90000 - £100000
then I have successfully open my business account from Lloyds bank before 3 weeks and I applied for bounce back loan 45,000, money was credited to my account next day
after than I put my own £1000 check to my personal account that also credited to my personal account nex day I checked my Mobil bank wasn’t work and my account is blocked
now they send the message like my all accounts has been close within 2 months
please help me to solve
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Turnover £90k - £100k.
BBLS allows up to 25% of turnover.
If you could not work that out correctly, but fraudulently applied for £45k, I really can't think why it all went wrong for you.2 -
You fraudulently applied for a £45,000 Bounce Back Loan and now they have closed your account and referred you to the NCA. I recon over half of all Bounce Back Loan applications are in someway fraudulent like yours, you state your turnover is £90,000 - 100,000 which makes you eligible for a £25,000 Bounce Back Loan maximum if you even have a business at all.0
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Registered your business for what? You don't have to register for anything as a sole trader. However, if your annual t/o is £90-100K, then you are above the VAT threshold (£85K) and will need to account for and pay VAT on that.
So that's another £18K you will need to find...
But I'm curious as to why Lloyds paid out £45K, unless you told them your t/o was at least £180K?No free lunch, and no free laptop1
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