October 2021 - Page 6 of 9 - Mr Bounce Back - Bounce Back Loan News - Updates

Swoop Funding Admit BBL Scheme Was About “Putting Out the Fire and Surviving” and Claim the Recovery Loan Scheme is Proving Successful Now More Lenders Are Onboard and Starling Bank Say a “New Son” of the Recovery Loan Scheme May Be Around the Corner

October 19, 2021

I have found an interesting recent webinar that some of […]

House of Commons Library BBL Document was Riddled with Inaccuracies and Suggests Sole Traders Should Ask Their Bank If They Can Pay Themselves an Income with Their Bounce Back Loan as the “Banks Set the Rules”

October 18, 2021

It is no surprise that many MPs did not have a clue about the inner workings of the Bounce Back Loan scheme and couldn’t help their constituents with BBL related problems when you discover the nonsense offered to them as guidance by way of documents related to the scheme available in the House of Commons Library. […]

A British Business Bank Survey and My Polls Reveal Rishi “Show me the Data” Sunak Needs to Wake Up and Smell the Coffee and Make Some Changes to the BBL Scheme in His Autumn Budget – Here is That Data Rishi

October 17, 2021

The sh*t has not quite yet hit the fan with […]

Using Funds from a Bounce Back Loan for Crypto Trading Lands Sole Trader with a Six Year Bankruptcy Restrictions Order

October 16, 2021

One recurring explanation given for hitting LTD Company Directors with a long disqualification or a Sole Trader with a long Bankruptcy Restrictions Order when they wind up their business and a Bounce Back Loan was secured for that business is that the loan was “not used to provide economic benefit to the business”. It is true to say that currently the majority of businesses that are being wound up that have a BBL […]

Two Recent Financial Ombudsman Service Determinations Regarding a Royal Bank of Scotland and a Bank of Scotland BBL Related Complaint – They Find Errors Were Made by The Banks But Do Not Uphold Complaints

October 15, 2021

As you will see from the following two complaints sent to the Financial Ombudsman Service even though errors were made by the Royal Bank of Scotland and the Bank of Scotland the do not uphold the complaints, one relating to the decline of a BBL and the other regarding a blocked bank account after customer received a Bounce Back Loan. […]