Denied a BBL (BOUNCE BACK LOAN)

Accerby

Hi, I'm new on here but didn't know where else to do. 
I've been trying to apply for a BBL first with my business bank which have ran out of funds, then all the other banks that are willing to take on new customers. So far I've been unuccessful in getting a bounce back loan and now I'm not sure where I can go to apply with someone else. Surely if the loan is gaurenteed by the government someone should be able to give me the loan. But where after ive tried all the known banks that would take me on. I've now got 3 different business accounts that I don't need. 

NickProfile

It’s a can of worms unfortunately. There is a distinct lack of transparency and the integrity of the banks has to be seriously questioned based on my own experience and that of what I am reading on this forum. 

Accerby

I could do with some answers regarding where I should go if I can't get a loan from the banks. 

mattyprice4004

The banks are the only people issuing them - it's a scheme run between the banks and the Government. 
Is your profit at a level where they're confident you'll be able to pay it back? While it is Government backed, the Gov doesn't want to take on loads of debt from people that are unlikely to repay it. 

gt94sss2

Who do you have your 3 business back accounts with?
Once you've successfully opened one, you should have no issues getting a BBL from them if they are issuing them.
You can't have more than one application at a time though

Accerby

gt94sss2 said:

Who do you have your 3 business back accounts with?
Once you've successfully opened one, you should have no issues getting a BBL from them if they are issuing them.
You can't have more than one application at a time though

I already had an account with tide but they have ran out of funds, then I tried with starling and ended up having a personal and business account before they emailed saying I was unsuccessful. I've been waiting weeks now for barclays to even accept my business card application before I can even apply for the bbl with them. I spoke to HSBC as they say I can apply without getting a business account with them but I have to wait for an outcome from tide first (which have ran out of funds). To the best of my knowledge, there's no other bank that will take on new business accounts at present. So I really don't know what to do now. Any suggestions? 

gt94sss2

I think you have covered your bases for the moment. There were more banks originally willing to offer non-customers loans but they have since changed policy.

All you can do is keep an eye on the table at https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/#where to see if the situation changes.
I fear you've been a victim of (imho) Tides incompetence and bad luck in that your business account was with them.

Edit: if you have a live application with Tide, I would withdraw it and try elsewhere..