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Bounceback Loan Hell
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MORF1
Posts: 1 Newbie
I need to obtain Finance for my small limited company or may have to shut down. I've been trading since June 2019. I bank with Tide and tried to get a was on the waiting list there when they announced no further loans. I applied with HSBC but was declined. I have spent the last 2 month arranging an appointment and going into a branch with Barclays but have been declined just to open a business account.
I don't know what other options I have now? The amount of time I have invested trying to get a bounceback loan has worn me out.
I've just started looking at the business interruption loan schemes as a last resort.
Any advice where to look?
I don't know what other options I have now? The amount of time I have invested trying to get a bounceback loan has worn me out.
I've just started looking at the business interruption loan schemes as a last resort.
Any advice where to look?
0
Comments
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I suspect CBILS is not an option if you have low turnover - the scheme was amended so small loans are BBLS and larger loans are CBILS.0
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useful table in this article tells you the state of play with the banks
https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/
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