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December 1, 2021

Today’s News

The Disqualification Files

Company Director Blags Two £50k Bounce Back Loans for One Single Business and Along With His Failure to Keep and/or to Maintain Adequate Accounting Records Gets a 10 Year Disqualification

The rules of the Bounce Back Loan scheme stated that you could have as many BBL’s as you had eligible separate businesses, one for each business, as long as they were not part of a holding company at the top of the structure, in fact the record I am aware of is 36 BBLs to one multiple business owner. However, today’s case is regarding a Director who got two £50k BBLs for one single Business. […]

True Cost of BBL’s

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A Total of 65 People Have So Far Been Arrested for Alleged Government Backed Loan Fraud / Local Authority Grant Fraud with the Government Having Paid Out the Guarantee to Lenders on 155 BBLs and 113 CBILs “Suspected” Borrower Fraud Cases

Trying to make sense of who out and out defrauded the Bounce Back Loan and CBILs schemes, along with ripping off the Local Authority Business Grant schemes is going to take quite some time, however plenty of people have already been arrested for such crimes. So far a total of 65 people have been arrested for […]

Challenge Your BBL Updates

Back British Business

FOS Report Huge Drop in BBL Related Complaints – But They Are Expecting a Huge Increase Soon Due to SMEs Challenging Their Loans Hence Them Taking on More Staff to Deal with BBL Complaints

Having seen Bounce Back Loan complaints sent into them drop by 112, from 287 in Q1 down to just 175 complaints in Q2, the Financial Ombudsman Service (FOS) are expecting a huge increase moving forward and are making the required steps to cope with that demand. As more and more people challenge the legality of their Bounce Back Loans […]

Back British Business

Subscriber Special Report – I Met Up with the Back British Business Team in London and Quizzed Them Some More on Their Challenge Your Bounce Back Loan Service – Here Is What They Told Me About Sign-Ups, Snatch-Back Letters and More

I had an enjoyable time at the EUA Campaign event in London on Wednesday, and had a busy schedule to fit in. I did of course spend some time with several members of the Back British Business team and once again they were more than happy to answer my questions. Those of you with a snatch back letter can rest assured […]

Back British Business

Been Sent a BBL Snatch Back Letter? Well, You Are Currently in Limbo as Most Banks Never Let You Know Why They Sent It – You Can Still Challenge Your BBL If You Feel You Have Done No Wrong, Gather Round Let’s Have a Chat

The utterly vile way the banks are treating some of their Bounce Back Loan customers knows no bounds, and today I want to enlighten you on your options with challenging your BBL even if you have been sent out a snatch back letter, and the loss of income you may be experiencing due to receiving one. […]

There has been a great deal of interest now that finally a law firm has stepped forward to offer not only a legal argument for challenging a Bounce Back Loan but also a service allowing anyone with one or more of those loans to challenge their BBL(s). As news, feedback and updates come in I will be adding more articles to the above section. You can view them all by clicking or tapping HERE.

Compensation Files

Bounce Back Loan Rabbit Hole

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A Total of 65 People Have So Far Been Arrested for Alleged Government Backed Loan Fraud / Local Authority Grant Fraud with the Government Having Paid Out the Guarantee to Lenders on 155 BBLs and 113 CBILs “Suspected” Borrower Fraud Cases

Trying to make sense of who out and out defrauded the Bounce Back Loan and CBILs schemes, along with ripping off the Local Authority Business Grant schemes is going to take quite some time, however plenty of people have already been arrested for such crimes. So far a total of 65 people have been arrested for […]

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The Often Bumbling/Befuddled Tom Scholar From HM Treasury Was Once Again Forced To Sit Before The Public Accounts Committee and Answer a Slew of Bounce Back Loan Related Questions.

Whilst he once again buckled under pressure during a Public Accounts Committee Oral Evidence Session, at one stage struggling to remember the name of one of the Covid Loan schemes, I was able to gather some interesting facts and figures when listening to what Tom Scholar and his HM Treasury team had to say about BBLs. […]

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Having Been Refused Entry Into Their Building, Surrounded by Bouncers and As HM Treasury Have Finally Replied To My Complaint I Have Submitted Additional Evidence and Have Increased My Compensation Claim from £250,000 to £360,000

For those of you avidly following the never ending, almost farcical saga surrounding the complaint I have submitted to HM Treasury, I have now submitted additional evidence and have increased my claim for compensation over the Government’s mishandling of the Bounce Back […]

If you fancy immersing yourself in Bounce Back Loan madness, scandals, and a whole lot more, then feel free to check out my Premium Content. With hundreds of pages of new stories, updates and things that may surprise or even shock you, then venture down that rabbit hole HERE.

Bounce Back Loan News Updates

The Disqualification Files

Company Director Blags Two £50k Bounce Back Loans for One Single Business and Along With His Failure to Keep and/or to Maintain Adequate Accounting Records Gets a 10 Year Disqualification

The rules of the Bounce Back Loan scheme stated that you could have as many BBL’s as you had eligible separate businesses, one for each business, as long as they were not part of a holding company at the top of the structure, in fact the record I am aware of is 36 BBLs to one multiple business owner. However, today’s case is regarding a Director who got two £50k BBLs for one single Business. […]

The Disqualification Files

Failing to Maintain and/or Deliver to the Liquidator Adequate Accounting Records to Prove Whether a Bounce Back Loan Was Used for the Benefit of a Business and Where Other Funds Went Lands Company Director with a 7 Year Disqualification

Many things will wind-up a liquidator, one of them being a business owner failing to keep and/or supply to them adequate accounting records, today’s case is one in which a 7 year disqualification has been handed out for those failings, and it does of course include a Bounce Back Loan, a Santander one […]

I update this website daily with all manner of Bounce Back Loan related articles and news stories, if they do not fit into any of the other categories or overlap two of them you will find them all HERE.

50+ Insolvency Service BBL Related Cases

The Disqualification Files

Another Company Director Disqualified for Over-Egging Turnover and Not Supplying Proof That a Bounce Back Loan Was Used to Benefit His Business

The list of Company Directors given a slap by the Insolvency Service continues to grow and at pace, and today I am taking a look at another one who has just been disqualified for a whopping 11 years for over-egging his business turnover to bag a BBL whilst not being able to prove the funds were used to provide economic benefit to his business. The chap in question is […]

The Disqualification Files

Insolvency Practitioner Warns Company Director His Business Appears Insolvent and Not to Do Anything to Worsen Position of Creditors – He Then Proceeds to Obtain a BBL and Uses it for Personal Benefit and Is Hit with a 7 Year Disqualification

Using a Bounce Back Loan for personal benefit and not for the benefit of the business has landed many a Company Director with a long disqualification when they then go on to wind-up their business, and today’s case involves a £50k BBL and a 7 year disqualification. On the 27 July 2020 […]

It is a task I did not want to do, however as more and more businesses are sadly being forced to go to the wall with a Bounce Back Loan owing, I am keeping a count of the Sole Traders and Company Directors that I come across that have been forced to wind up their business and also the ones that have been slapped with a Bankruptcy Restrictions Order (BRO) or Disqualification by the Insolvency Service due to BBL “wrongdoing” and the value of the BBLs that have gone sour. The list is ever growing and the reasons for the BRO or Disqualification do vary. You can find an overview of each case HERE.

500+ Stories of BBL Stress and Anguish

My “Twitter Vault” dates back to when the Bounce Back Loan Scheme was up and running. You will find complaints, stories of success and all manner of feedback relating to hundreds of SME’s personal experiences of trying to get a BBL. I have of course edited out any personal information. Just be aware some of the stories are distressing, but I feel they need to be put out there as many of you will relate to them and will know just how much of a stressful time it was for many people trying to get one of those loans at the time, and the state of mind many of you were in when applying. The Twitter Vault is HERE.

25+ Ombudsman BBL Complaints

The Financial Ombudsman Service is for want of a better word a joke, they won’t like me saying that, but I speak as I find, and it is the truth. Many, many people have submitted a Bounce Back Loan related complaint to them, and initially it will be dealt with by a “case handler” if you do not like the decision/ruling on your complaint you can then ask for a review, and by doing so it will then finally go to a real “Ombudsman”. Anyway, if you want to see all published FOS BBL related complaints and outcomes click HERE.

BBL Related FOI Requests

Trying to get information out of the British Business Bank or even BEIS about the Bounce Back Loan Scheme can be difficult. One way you can try and do so is by submitting a Freedom of Information Request. That is something I regularly do. However, one tip is to ask them for every FOI request they have received and the replies they have sent out, you can connect the dots much better then. Checkout a selection of those FOI’s HERE.

Bank Bosses Have Their Say

Being hauled in front of the Public Accounts Committee or the Commons Treasury Committee is something no bank boss will enjoy. They are often put on the spot and have all manner of questions fired at them by MPs. Come and take a look at some of the questions several bank bosses have been asked about the running of their BBL facility and how they stumbled, fumbled, and even mumbled their way through their answers HERE.

Snouts in the Trough

Snouts in the Trough

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. […]

Snouts in the Trough

Worried About Going Bust Having Had a Government Backed Loan? Don’t Be, as a Company with Links to Rishi Sunak and His Wife Has Already Done So, But for a Whopping £1.3m Oh What Fun!

You are not going to believe this, well in today’s Political world you will, below I will lay out all the facts on how a company linked directly to Rishi Sunak and his Wife, bagged a £1.3m Government Back Loan and then went into Administration. I will let you connect the dots on this one dear reader, as I know you like to see “receipts”. […]

Sleaze has made a reappearance in HM Government, not that it ever went away of course. My Snouts in the Trough Section of the website takes a look at MPs and Members of the House of Lords who have links or financial interests in Government Backed Loan Lenders, come and take a look HERE.

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