Bounce Back Loan

Jeremy535897

Whilst you can apply to top up a BBL that was less than the maximum you could take per the turnover, your problem is that you entered the wrong turnover figure in the first place, and that's not the same. If the ombudsman ruled in the bank's favour on the question of whether a top up loan could be taken, I'm not sure what you can realistically do. If the ombudsman ruled before the ability to top up loans was introduced, it might be worth pointing this out to Santander, but the signs are not good:

"Businesses which originally borrowed less than the maximum amount available to them under the Scheme may be eligible to top-up their original loan. The original loan amount plus the top-up must not exceed 25% of the original self-certified annual turnover, or £50,000, whichever is lesser, irrespective of repayments a business may have made."
From https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/faqs-for-small-businesses/#f5

MattMattMattUK

Jleone63 said:

I have applied for a bounce back loan with Santander as I am a director of a company so no other support. When the form came up on Santander website I had difficulty in putting in £30.000.00. It kept saying error. I finally managed and received £3.000.00 . After involving the banking ombudsman, they revealed I had only put into the system $12.000.00 takings per year. It was obvious that a 0 was missed out on both of the numbers. 

What country are you applying from? Part of the reason is that in "30.000.00 you have used a decimal place twice, which might be throwing out their system (I know in certain European countries they switch around the use of a decimal place and a comma as a separator). You have also mentioned an amount in dollars. Finally the limit if the turnover was £12,000 would be £3,000, which would be why the system defaulted to the base level.

Is there a chance, based on the inconsistencies in the post, that you might have entered the information incorrectly on the form and that has lead to the issue you have experienced? It may appear obvious to you that a 0 was missed off your figures, it may appear to Sandander that you said you had a turnover of £12,000 and were applying for a £3,000 BBL.

Jleone63 said:

Santander wont relook at this or deal with it, even though they acknowledge they know the business earns more as the moneys goes through their account. 

They are not under any requirement to revisit it, based on your original application being accepted and only being allowed to have one BBL under the rules of the scheme there is nothing you can do, you applied for and received a BBL. As well as the initial application you will have also been required to confirm the information when they sent you through the policy details before the online signature, on that basis the error is yours and not theirs. 

Jleone63 said:

Has anyone else had the sane issue as I have as I am going crazy trying to keep my business supported until we open again 

Many people have made errors on their BBL applications, unless they picked this up during the application process they will have to live with those mistakes as the system does not allow for changes once the loan has been granted (with the sole exception of one top up, based on the original figures supplied).