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boxermad68
Posts: 4 Newbie
Anyone else have an opinion on this? If you took out a BBL but then decided to close your business would you need to pay the loan back? If sole trader can I just keep the loan and start the repayments when the time comes even if the business that it was taken out for has closed? I can’t get a definite answer for this!
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If you met the eligibility criteria for the loan when you took it out as a sole trader, I don't think that they demand immediate repayment because the business later closes, but check the terms and conditions attached to the loan.1
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