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June 13, 2021

Today’s News

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First Enterprise the East and Southeast Midlands Regional Lenders Now Accredited to Offer Recovery Loans

The lure of some big fat juicy interest rates and being given the greenlight to pawn off their own loans instead of Recovery Loans on customers, is proving to be irresistible to many banks and lenders. Pity none of them came to the aid of the overwhelmed lenders when the BBL scheme was live. Another regional lender has now been accredited to offer Recovery Loans that being First Enterprise. […]

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First Enterprise the East and Southeast Midlands Regional Lenders Now Accredited to Offer Recovery Loans

The lure of some big fat juicy interest rates and being given the greenlight to pawn off their own loans instead of Recovery Loans on customers, is proving to be irresistible to many banks and lenders. Pity none of them came to the aid of the overwhelmed lenders when the BBL scheme was live. Another regional lender has now been accredited to offer Recovery Loans that being First Enterprise. […]

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The Tourism Recovery Plan Among Other Things is Set to Target Gamblers with Vouchers which can be Redeemed at Tourist Attractions Across the UK

Nigel Huddleston was one of several MPs who yesterday announced the launch of the “Tourism Recovery Plan” put together by the Department for Digital, Culture, Media & Sport. That scheme is aimed at helping the tourism industry across the UK to recover in several different ways such as a “Bus Back Better” campaign and tickets to tourism attractions offered to gamblers playing the National Lottery. […]

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Tampon Tax Fund Grants Available for Charitable, Benevolent, and Philanthropic Organisations that Improve the Lives of Vulnerable and Disadvantaged Women and Girls across the UK

The Tampon Tax Fund has been set up to help distribute VAT generated funds charged on sanitary products to various Philanthropic, Charitable and Benevolent organisations that can help improve the lives of disadvantaged and vulnerable women and girls across the UK, and applications for grants of at least £350,000 are now being accepted. […]

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New Recovery Loan Lender Shire Leasing Offers Asset Finance Including Sale and Leaseback/Sale and HP Back and Loans over 3 to 5 Years as Part of that Scheme

I live in hope that the British Business Bank will finally accredit a lender that is prepared to help everyone seeking a Recovery Loan, however until that day arrives, I will continue to keep you updated with those they do accredit, even though not many people are being approved for those loans, and in fact most SMEs have written-off that scheme as a waste of time. […]

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For Those of You Desperate for Business Funding Do Not Forget the Start Up Loans Scheme As You May Be Pleasantly Surprised At How That Scheme Has Been Designed

If you have a nose on your face, then you will be more than aware at how the Recovery Loan Scheme is helping very few SMEs, and with the current chance of a BBL MKII Scheme looking highly unlikely, today I want to enlighten you on the Start Up Loans Scheme which has helped many people with a business that has been established for up to 2 years and those wishing to start a new business secure funding, and I have been getting good feedback on it too (makes a pleasant change). […]

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Been Convicted of Dropping Litter? Not Paid Your Tax Bill? All Possible Reasons a Bank Will Issue an Event of Default for a Bounce Back Loan!

I have been busy of late trying to make sense of the constant stream of snatch back letters many banks have been sending out, which are basically demands for the full and early repayment of Bounce Back Loans, and whilst some of the reasons they are sending such demands/letters out are obvious, some border on the downright outrageous, let me explain. […]

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WARNING – Some Banks Appear to Be Taking Full Monthly BBL Repayment Amounts Out Of Customers Accounts When They Have Taken One of the PAYG Options

As we are now in month thirteen since the launch of the Bounce Back Loan Scheme, that does of course mean that if you got one of those loans in the first few days of the scheme going live, your first repayment will soon be due. I am however receiving reports that some SMEs have had the full monthly repayment amount taken out of […]

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Day 2 and 8 Covid Tests – Do Not Get Ripped Off If You Are Planning a Holiday or Business Trip Abroad – Atruchecks NOT Recommended

A quick warning for any of you who may need to book the 2 and 8 day Covid tests if you are planning a holiday abroad or a business trip overseas, there are some, what appear to be Government approved rip off merchants out there who will threaten you if you attempt to complain to them (not that they can be contacted speedily anyway) when they fail to deliver the goods. Atruchecks let me down and they may let you down too. […]

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British Business Bank Confirms Bounce Back Loan Lenders Are “Not Mandated” to Offer the Pay As You Grow Options But Simply Are “Expected To Offer Them”

If proof was needed that even now, after the Bounce Back Loan Scheme has come to an end, just how messed up that scheme is and was, it is the revelation by the British Business Bank that lenders that offered those loans are not mandated to offer the PAYG options but are simply expected to offer them. Not everyone is […]

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Regional Lender Enterprise Answers Now Accredited to Offer Recovery Loans to Lancashire, Cumbria, and Yorkshire Dales Based Businesses

If your business is based in Cumbria, Lancashire (but not Greater Manchester) or in the Yorkshire Dales then you may be interested in Enterprise Answers, who are the latest lender to be accredited by the British Business Bank to offer Recovery Loans, but be aware as always, those new Government backed loans are proving hard to get. Amazingly lots of new lenders are appearing and […]

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EU Starts Publicly Naming Businesses That Secured a CBILS Loan, Let Us Hope None of Those Businesses Suffer as a Consequence

Those who had asked the British Business Bank for the names of businesses that had secured a CBILS loan were told in no uncertain terms by that organisation to do so could put those businesses at risk, however with scant regard to that dire warning the EU has started to list them on one of their websites.  The same may shortly happen if you got a Bounce Back Loan too […]

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GC Business Finance Becomes the 31st Recovery Loan Lender, One More Than the Bounce Back Loan Scheme, So Many Lenders Yet Few Are Getting Those New Loans

The British Business Bank have finally pulled their finger out, and are accrediting more Recovery Loan Lenders, and with the accreditation of GC Business Finance that means there is now one more lender (so far) that are part of that scheme than offered Bounce Back Loans, but why so many lenders when very few are […]

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The Bounce Back Loan Scheme Came to an End at Midnight Last Night, So It Is Now Time for Rishi To Get His Thinking Cap On And Start Planning Some Changes to that Loan Scheme

As the clock struck midnight last night, bank bosses across the UK probably collectively put out a sigh of relief as that marked the end of the Bounce Back Loan Scheme, but now its time for Rishi and Co to put their thinking caps on, for if additional help and support is not forthcoming, many SMEs will, for want of a better word, be in the sh*t! […]

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HM Treasury, the National Audit Office, BEIS and Most Banks Do Not Have a Clue Yet On The Scale of Bounce Back Loan Defaults But Banks Are Now Issuing Official Default Notices One of Which I Have Uploaded

With no real idea yet on the number of Bounce Back Loan defaults that are likely to occur in the coming months, all you will see is estimates from those involved in the scheme, however I have seen a plethora of BBL Breach Letters being sent out by some banks, and today I will give you an insight into what an Official Default Notice looks like from one bank. […]

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You Will Know How Arrogant Santander Were Regarding Opening Business Accounts when BBLs Were Available If You Tried to Do So. Read Their Official Response

One of the bosses of Santander has admitted that bank will be snooping in business customers accounts if they got a Bounce Back Loan to see if the account is being run as they would expect with regard to certain aspects of the application for a BBL those customers made/supplied, and today that boss gives an insight into how they handled business account openings during the BBL scheme. […]

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Are Barclays Telling the Truth about Problems Customers Had Opening Business Accounts Whilst the Bounce Back Loan Scheme Was Live? Read Their Official Response

I heard plenty of complaints about Barclays relating to SME’s trying to open business accounts with that bank with the aim of getting an account opened and then going on to try and apply for a Bounce Back Loan, today you can find out what one of their bosses has to say on that subject and other related questions she has answered. […]

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Have HSBC Lied About Delays Regarding Opening Business Accounts During the Period Bounce Back Loans Were Available? Read Their Official Response

As someone who may have tried to apply for a Business Account with HSBC with the aim of getting a Bounce Back Loan, you will know whether you experienced any problems or not, and below you will find the official response from HSBC regarding such accounts and how they handled things during the time BBLs were available. […]

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Funding Circle Offering Recovery Loans with Rates from 4.3% to 12.1% But They Will Try and Get You a Standard Business Loan On “Better Terms” First

You can now apply for a Recovery Loan from Funding Circle as they have just been accredited by the British Business Bank, and they claim that you can find out if you are eligible via their online checker tool in 30 seconds, and they also claim within 10 minutes you can apply for one of those loans and will be paid out your funds promptly if approved. Good luck with that. […]

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Fashion Guru and Westminster Hairstyle Trend Setting MP Alok Sharma Suggests You Venture into the World of Hand Me Down Clothes and Beauty Salons Should All Go Green

The fashion guru and “Westminster hairstyle trend setting” MP, Alok Sharma, he who oversaw the Bounce Back Loan Scheme, has decided the time is right to demand you all start wearing or selling (if you are a clothes retailer), hand me down clothes, or if you operate a beauty salon you must go green, so no more punk or beehive hairstyles held in place with […]

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Sadly, It Looks Like Ex-MP Chris Leslie from the Credit Services Association Has Bottled It and Much Like BEIS He Is Taking a Vow of Silence on Ethics and Standards.

As you may recall I made contact with Charles Leslie from the Credit Services Association in the hope that he could explain the code of ethics and standards that all debt collectors and recover agents signed up to that Association he heads will be expected to adhere to when asked to attempt to recover funds from those defaulting on Bounce Back Loans, and a range […]

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Starling Bank Finally Make Live the BBL PAYG Options But Are Demanding Repayment in Full From Some LTDs and HSBC Are Delaying Those Options for Some SMEs Too

It looks like Starling Bank have finally given in to pressure to get their PAYG BBL Options live but be warned they are monitoring Companies House and demanding repayment of Bounce Back Loans in full if anything is amiss, and HSBC are delaying the activation of those options for some SMEs too. Feedback received also indicates that HSBC […]

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An Insight Into Barclays Bounce Back Loan Snatch Backs and Defaults, Looks Like They Are Giving SMEs Options Before Farming Them Out to Debt Collectors

Worryingly, I have had a slew of complaints about Barclays demanding repayment of BBLs sent to me over the weekend (for various different reasons) and today I will give you an insight into what they are offering one of those customers by way of options for repayment before they farm them off to their collections team and/or debt collectors. […]

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Kwasi Kwarteng Secretary of State for BEIS Bags a Huge Donation from Helios Investment Partners LLP and Low and Behold the British Business Bank Pick One of that Firms Partners as Chair for their Working Group

Kwasi Kwarteng is Secretary of State for BEIS that organisation instructed the British Business Bank to launch the BBL, CBILS, CLBILS and Recovery Loan Schemes. Well, he must have been giddy with excitement when Helios Investment Partners LLP bunged him £4,500 for his election fighting fund. Then would you believe it, the BBB pick Henry Obi from Helios Investment Partners to become Chair of one of their Working Groups. […]

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Investec Now Accredited to Offer Recovery Loans and Would You Believe Andrew Mitchell MP (“Plebgate”) is a Senior Advisor Earning £12k a Year for Two Days Work

The list of MPs and Members of the House of Lords that have links to firms accredited by the British Business Bank to offer Government Guaranteed Loans gets bigger each time another one is accredited. Today I bring news of Investec the latest Lender to get the greenlight from the BBB to offer Recovery Loans and links to Andrew Mitchell MP. […]

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Kit Malthouse Conservative MP and Home Office Minister Founded and Has a Healthy Shareholding in a CBILs Lender, and Ex-Chancellor of the Exchequer Sajid Javid bags £30k from BBL Lender HSBC for a Cosy Chat, Who Would Have Guessed!

It just never ends dear website visitor, let us face it with Rishi and Co launching CBILS there was some chunky money to be made with that and all other Government backed loan schemes, and Kit Malthouse MP must have been rubbing his hands with glee when the finance company he founded was accredited by the British Business Bank to offer CBILS. I wonder if that firm will become a Recovery Loan Lender too. As of the […]

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I Have Invited Chris Leslie CEO of the Credit Services Association to Have a Chat and Answer Questions About How His Members Will Be Handling BBL Defaulters

I have invited Chris Leslie the Ex-Shadow Chancellor to have a chat with me in the hope he will answer many questions about how the collection agents, that are members of the Credit Services Association, the trade association he is CEO of, will handle any Bounce Back Loan defaults they are sent to try and recover. […]

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Will the “Help to Grow” Scheme Be Another Complete Waste of Money? I Fear It Will Be with NatWest Part of its Expert Advisory Council.

I noticed that Business Secretary Kwasi Kwarteng was somewhat giddy with excitement as he announced the list of business leaders spearheading the government’s new Help to Grow: Management scheme. Alas when I saw who they were and recall what they have said and done in the past, I am wary about whether that scheme is going to be any use at all. […]

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NatWest Employee Bins Off a BBL Complainant Telling them Please Do Not Contact Me Again As I am Moving Roles Then Contacts Other Customers From the Same Department

Bank staff really do need to get it into their heads that customers with complaints about their banks are going to communicate with other people about those complaints. Below you will find a prime example of one staff member binning off their customer complaints and telling them they have left their job roles so do not contact them again, when that appears not to be the case. […]

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Rishi’s Rancid Racket Exposed