Can I Spend My Bounce Back Loan as I See Fit?

July 5, 2020 Twitter Vault

Hi I’m not sure if you cover this I’m sure I have been accepted for a bounce back loan (not received funds yet). My question is if you have any knowledge that I’m a sole trader and don’t have employee’s will my loan be monitored on how I spend or can I spend at my will any info would be great thanks

So can that be my normal outgoing wages. Can I transfer into my current personal acc cheers

Note: As soon as it is paid it is your money obviously needs repaying you can spend it as you see fit for your business. Yes you can transfer it where you like for business purposes, to be honest most people immediately transfer it out of their account once it lands!

Barclays

Can I Spend My Bounce Back Loan as I See Fit?

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