July 2021 - Mr Bounce Back - Bounce Back Loan News - Updates

Businessman Applied for a £50,000 Bounce Back Loan By Over-Egging Turnover and Using Most of It for Personal Benefit and Not for the Benefit of His Business – Outcome 7 Year Disqualification

July 30, 2021

Over-egging turnover for a Bounce Back Loan then winding up the company is something the Insolvency Service are used to seeing, and here is the story of another businessman who did just that and ended up with a 7 year disqualification. […]

Businessman Ceased Trading but a Few Weeks Later Applied for a £11,250 Bounce Back Loan and as Such the Insolvency Service has hit him with a 5 Year Disqualification

July 30, 2021

The number of business owners who ceased trading but then went on to apply for a Bounce Back Loan and have been hit with a disqualification for doing so is on the rise, and here is another one which saw one businessman hit with a 5 year disqualification. […]

Businessman Over-Egged Turnover on His Car Business Allowing Him to Get a £50,000 Bounce Back Loan and Made Payments to Himself and Co-Director – Outcome 7 Year Disqualification

July 30, 2021

The Insolvency Service are still very busy currently, casting their eyes over any businesses that have been wound up with Bounce Back Loans still owing, and here is yet another Director that has been slapped with a 7 year disqualification for over-egging turnover and using a fair chunk of that loan for “personal benefit”. […]

The British Business Bank Address the Question “My Company Has Essentially Failed and My Bounce Back Loan Has Left Me with What I Regard as a Personal Liability What Can I Expect Moving Forward”?

July 30, 2021

Sadly, some of you out there are now faced with the stark reality that your business has failed due to the pandemic and are worried about how the banks will address that situation when you cannot repay your Bounce Back Loan, in this article Richard Bearman a Managing Director at the British Business Bank gives an overview of what you can expect moving forward. […]

Despite the Current Hard-Nosed Approach by HM Treasury There Are Hints of Some Changes to the Bounce Back Loan Scheme Later this Year

July 30, 2021

Plenty of organisations, even MPs are approaching HM Treasury and Rishi Sunak suggesting a plethora of changes to the Bounce Back Loan Scheme. However, despite their collective current hard-nosed attitude there are some hints of possible changes to the Bounce Back Loan scheme later this year, once the current additional support schemes begin to expire. […]