Bounce back loan

[loky11]

I don't have a business account, and wanting to apply for bbl what banks are offering it to non business account holders? Starling arnt accepting anymore applications.

 

[Complete]

None that I’m aware of. Tide will let you open a business account and apply straight away

 

[loky11]

None that I’m aware of. Tide will let you open a business account and apply straight away

f**k**g hell, was hoping I didn't have to open one, paying them a small fee for something I don't really need is putting me off but I want a new van

 

[Complete]

f**k**g hell, was hoping I didn't have to open one, paying them a small fee for something I don't really need is putting me off but I want a new van

It’s free if you don’t pay money in haha

 

[loky11]

It’s free if you don’t pay money in haha

Oh is it? never knew that, ah f**k it ill open one up.

 

[devneydutch]

They have suspended bounce back loans from Tide. Any other options?

 

[loky11]

They have suspended bounce back loans from Tide. Any other options?

Starling have aswell, must be somewhere that's still doing them.

 

[owls]

It’s based on last years turnover 20% of it,as to how much you can borrow and I think most banks have now suspended it as stuff gets back to normal I guess.i got the maximum of £50k as our turnover is over £250k

 

[Colin 879]

It’s based on turnover isn’t it ?? You can’t just open an account and get one lol

 

[loky11]

It’s based on turnover isn’t it ?? You can’t just open an account and get one lol

I've enquired about it and been told I can apply for one but it will require me to open a business account.

 

[johniosaif]

I've enquired about it and been told I can apply for one but it will require me to open a business account.

Yes , once you are a business and can prove it through hmrc , you are eligible for a bbl, but you’ll probably have to open a business account, ,

 

[Colin 879]

Yes , once you are a business and can prove it through hmrc , you are eligible for a bbl, but you’ll probably have to open a business account, ,

so I have a ltd business registered and a business bank account which was set up in jan and waiting to April / new tax year to start using it but covid19 haven’t traded under it or had a penny go in the bank account and I could of got one ??

 

[johniosaif]

so I have a ltd business registered and a business bank account which was set up in jan and waiting to April / new tax year to start using it but covid19 haven’t traded under it or had a penny go in the bank account and I could of got one ??

Doubtful, it was the last 2/3 years they were looking at , my Mrs does it for a living with mortgages also

 

[loky11]

Ive been a sole trader for the last 7 years, with just a personal account, and I know a few others that have applied without business accounts and have got them so it's worth a try isn't it?

 

[johniosaif]

Ive been a sole trader for the last 7 years, with just a personal account, and I know a few others that have applied without business accounts and have got them so it's worth a try isn't it?

Off course , try for it , you have a business

 

[OCDC]

MoneySavingexpert.com has a list of all banks offering loans and there requirements whether you need personal/business account. It’s 25% of turnover

 

[Bartholomew]

Doubtful, it was the last 2/3 years they were looking at , my Mrs does it for a living with mortgages also

It's only based on the last years turnover for bbl, 3 years for grants

 

[owls]

It’s based on turnover isn’t it ?? You can’t just open an account and get one lol

Last years turnover yes, you can’t just open an account.

 

[tapit]

Last years turnover yes, you can’t just open an account.

you can, if you have been trading but without a business account you could open one and get the grant.

 

[owls]

you can, if you have been trading but without a business account you could open one and get the grant.

Yes the acccounts nothing to do with it, i meant you couldn’t have just set up with a new account.

 

[owls]

It’s a no brainer as others have said, money will never be as cheap to borrow. using for a new van for instance, pay it back over 4 years at 2.5% plus right down on your tax bill over 4 years.

 

[Kinkyboy]

Who said there have stopped bbl for now? How the he'll do you know? There available until November,makes me laugh sometimes on here.and you don't need a business to get one you can be a sole trader

 

[johniosaif]

Who said there have stopped bbl for now? How the he'll do you know? There available until November,makes me laugh sometimes on here.and you don't need a business to get one you can be a sole trader

Sole trader is A business,

 

[Kinkyboy]

Sole trader is A business,

You know what I mean.you don't need a business account etc

 

[John j]

It’s based on last years turnover 20% of it,as to how much you can borrow and I think most banks have now suspended it as stuff gets back to normal I guess.i got the maximum of £50k as our turnover is over £250k

I got 30 quid.