Bounce back loan possible with no business acc?

treasureirealnds

Evening all, any advice greatly appreciated.
I’m trying to help my brother out with a BBL application. He has a Barclays personal current acc. Seems you can only apply through their business app. So that’s out. 6 week wait for business account applications.
All other banks listed that can provide the loan are saying you need a business acc.
It was my understanding you didn’t need a business acc?
He’s applied to HSBC for an account but got declined. 

Any suggestions on what he can do?
thank you.

Grumpy_chap

The government rules don't specifically require a business account.

The banks are entirely at liberty to say they will not advance the loan to personal accounts against the terms and conditions.

bazzyb

Barclays will allow applications from customers who use their personal account for business purposes but he needs to call them. This is detailed on their website. 

Failing this he can approach other lenders but he would need to open a business account with them. 

gt94sss2

Have a look at the table at https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/#where for options.
There are relatively few and Barclays may be the best option even if it means waiting. 
Remember, you can only have one active application for a BBL at a time.
Starling might be an alternative but they have a queue as well

dunstonh

It was my understanding you didn’t need a business acc?

You don't.  However, the banks were under such pressure that they decided to focus on their own business banking customers and not those of other banks and those breaching T&C by using a personal account.   Effectively, anyone without a business banking account went to the back of the queue.

It is still possible but it will just take longer.