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Natwest declined Bounce back business loan, despite turnover was £57K in 2019 and we only bank with
Ollie1117
Posts: 4 Newbie
Hi, MSE,
I read few threads on this matter, but some seems not straightforward.
Nat west was our business bank account ( the only) since April 2018, turnover in 2019 is £57k - they accepted Application 1 day, the next day is declined siting their 'checks'?!
They also offered to email them for 'other lending option' to lendingrefferal@natwest.... something that ( their letter is not possible to copy and paste)?!
we are in real estate, were thinking to continue with online virtual tour viewings, however Zoopla ? Rigtmove alone are £500-650 plus VAt a month alone and min 6 month contact?!
Have no other business bank account, it is frustrating that facilities are there but not for all.
We have emailed them the Accounts that accountant filed with company house showing turnover £57K , but if no loan offered - is it worth complaining and escalating? is it worth writing to the British Business Bank at all?
thank yo for the input
I read few threads on this matter, but some seems not straightforward.
Nat west was our business bank account ( the only) since April 2018, turnover in 2019 is £57k - they accepted Application 1 day, the next day is declined siting their 'checks'?!
They also offered to email them for 'other lending option' to lendingrefferal@natwest.... something that ( their letter is not possible to copy and paste)?!
we are in real estate, were thinking to continue with online virtual tour viewings, however Zoopla ? Rigtmove alone are £500-650 plus VAt a month alone and min 6 month contact?!
Have no other business bank account, it is frustrating that facilities are there but not for all.
We have emailed them the Accounts that accountant filed with company house showing turnover £57K , but if no loan offered - is it worth complaining and escalating? is it worth writing to the British Business Bank at all?
thank yo for the input
0
Comments
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What was the size of the loan that you applied for?
The figures that you need to supply for t/o are not tax year 2018-19 but calendar year 2019. Is that what you gave them?No free lunch, and no free laptop
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It is from Jan 2019- Dec 2019
Real Estate? Thats not a common term. Are you not based in the UK?June challenge £100 a day £3161.63 plus £350 vouchers plus £108.37 food/shopping saving
July challenge £50 a day. £ 1682.50/1550
October challenge £100 a day. £385/£31000 -
Seems like the OP has missed out some vital information in this thread. Other here, which clearly says they weren't trading from Spetember 2019. https://forums.moneysavingexpert.com/discussion/6219248/bounce-back-loan-advice-pls-ltd-co-turnover-57k-in-2018-19-and-only-expenditure-in-2019-20#latest
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