Several newspapers are reporting some early figures regarding Bounce Back Loans, so today I have chosen to compare them to what thousands of people with one or more of those loans are telling me so we can work out what is true and what is just a wild guesstimate and do some good old fashion fact checking. […]
Today (Thursday 5 August) 191 businesses are being named for breaking national minimum wage law. Following investigations by Her Majesty’s Revenue and Customs, a total of £2.1 million was found to be owed to over […]
It just never ends this Bounce Back Loan madness, and it is now the turn of those with a Bounce Back Loan from Conister to start to worry, as I am getting multiple reports that the bank has gone quiet and are not contacting their customers re PAYG options on Bounce Back Loans. The British Business Bank have said that […]
f you have ever been on one of those speeding awareness courses to get out of having 3 points added onto your driving licence, and you enjoyed being told how to suck eggs, then Rishi Sunak has another course you will no doubt love, that being his fabled “Help to Grow Scheme” which he claims has been reduced in price by 90% to just £750! Talk about being in cloud cuckoo land. […]
The British Business Bank are a gift that keeps on giving, but not in a good way and despite their hatred of Bounce Back Loans and their constant badgering of the Government pre-launch to make them more like CBILS and CLBILS, low and behold they have just been given a huge slap down by the National Audit Office. […]
The number of accredited Recovery Loan lenders has now grown by an additional three with Swig Finance, White Rock and Newable being given the greenlight in the last few days to offer those hard to get Government guaranteed loans. It is obvious however many lenders are applying to be accredited so that they can pawn applications off with […]
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. […]
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. […]
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”. […]
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. […]
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