Lloyds bounce back loan -refused

Brownntall

Hi guys so i am a sole trader who was using my lloyds account for business too for about 2 years now and have now applied for a bbl 2 weeks ago i was then offered a loan servicing account by lloyds who i have been banking with for years so i went ahead and got accepted and they opend the servicing account after a few days of checks
but when it came to the payout of loan they suddenly found a cifas marker for fraud on my name for a dispute i had with a clothing online store 4 years ago.. long story short i then kept receiving the card readers i have now recieved 2..so i decided to apeal against the decision and lloyds and the case is now in review  i have sent them my accounts and explained how i use my bank account for business too have sent tax returns etc in..anybody else have any experience like this..? They have littrely sent me another card reader 6 days after refusing me for a loan and the business manager agreed that if i wouldnt have met the criteria they shouldnt even have opened the account in the first place..i have sent her all the evidence needed to proof that it is a legitimate business

zzyzx1221

I don't see what the card readers have to do with anything, nor whether you are operating a legitimate business. It doesn't appear that that is in dispute.

The issue, which you've already stated, is you have a CIFAS marker.  That's not only a perfectly valid reason for not giving you a loan, it's grounds for terminating the relationship with you entirely (and I'm surprised this hasn't happened already to be honest.)

Expect your appeal to be turned down.

MattMattMattUK

Brownntall said:

Hi guys so i am a sole trader who was using my lloyds account for business too for about 2 years now and have now applied for a bbl 2 weeks ago i was then offered a loan servicing account by lloyds who i have been banking with for years so i went ahead and got accepted and they opend the servicing account after a few days of checks
but when it came to the payout of loan they suddenly found a cifas marker for fraud on my name for a dispute i had with a clothing online store 4 years ago.. long story short i then kept receiving the card readers i have now recieved 2..so i decided to apeal against the decision and lloyds and the case is now in review  i have sent them my accounts and explained how i use my bank account for business too have sent tax returns etc in..anybody else have any experience like this..? They have littrely sent me another card reader 6 days after refusing me for a loan and the business manager agreed that if i wouldnt have met the criteria they shouldnt even have opened the account in the first place..i have sent her all the evidence needed to proof that it is a legitimate business

They are within their rights to refuse you a BBL or cancel it before paying out due to a CIFAS marker, the only surprising thing is you got that far in the process before the CIFAS marker was discovered. 

As mentioned above, you might also find all your banking services with Lloyds are terminated fairly soon due to the CIFAS marker. 

Thrugelmir

Is that a personal account you've been using for business purposes.