Bounce Back Loans HSBC

Flyer21

I wonder if people can help. I applied for an HSBC BBL to support me with cash flow - I own a nice holiday management business in Cornwall. I have received no money’s from anyone to date through the Covid crisis. HSBC in their wisdom have declined the loan as I bought the business in May 2020- even though it had been trading successfully for the 10 years prior to this. Surely this can’t be fair? 

[Deleted User]

 Flyer21 said:

I wonder if people can help. I applied for an HSBC BBL to support me with cash flow - I own a nice holiday management business in Cornwall. I have received no money’s from anyone to date through the Covid crisis. HSBC in their wisdom have declined the loan as I bought the business in May 2020- even though it had been trading successfully for the 10 years prior to this. Surely this can’t be fair? 

 Of course its fair, you bought the business well after the pandemic started! Surely you knew you were not going to make any money and took the risk anyway? 

Flyer21

Thanks for your comment. I have single handedly supported multiple local businesses during last season and this, where there was little work around and continues to be that way. Do you feel that I am not deserving of access to support ? Really? 

[Deleted User]

 According to the rules you had to be running the business before a set date, you were not, so no you don't qualify. 

Flyer21

The rules state that the business should be running prior to the 1st March - which it had been for 10 years. 

[Deleted User]

 Flyer21 said:

The rules state that the business should be running prior to the 1st March - which it had been for 10 years. 

 But it wasn't your business then 🙄