A Look at Week Eleven of the Bounce Back Loan Scheme

Week eleven of the Bounce Back Loan scheme started on the 13th of July and covered each day until the 19th of July, things were slowing down in that week as just 36,542 BBL’s were approved.

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Complaints continued to pour in as usual, anger levels were also rising for it was still proving difficult to open an account with most lenders, and those that were accepting new customers were dragging out the new account opening process.

Below in today’s video you will see an array of messages I was sent during week eleven, just some of the huge number that I got day and night from those caught up in the never ending BBL saga:

No new lenders were accredited by the British Business Bank that week, and as for just what problems people were experiencing still, well some people had applied to several lenders and were sorted out by one and then took great pride to tell the others to stick their BBL’s were the sun does not shine.

Keep in mind too that many people had never applied for a loan in their life before, so it was an alien concept and the lack of information coming from some bank support staff did annoy them, and some people were concerned their less than perfect credit score may stop them from getting a BBL too.

One question asked a lot was whether it was possible to get more than one BBL, well that was possible if the businesses were separate entities and not a holding company at the top of the structure, that is what the British Business Bank announced on the topic.

Many people were fuming at Tide and HSBC, the former has no more money to lend out and the latter were messing people about with Feeder Account applications as usual.

Having waited for what felt like an eternity for most people, the most asked question I got from those reporting they had just received their BBL was should they move it out of the account it landed into.

The reason they asked was obviously they had seen no end of other people having their BBL’s snatched back often erroneously by some banks and did not want that to happen to them.

Those on the Starling Bank waiting list were starting to get restless, for some of them had been on it for quite some time and were obviously getting desperate for an update and of course needed their loan too.

Watch that video above for an overview of the many other problems people were experiencing at this point in the Bounce Back Loan scheme, it was not all bad news of course for many of my followers finally did receive their loans that week.