August 24th Bounce Back Loans Update

A big shout out to the CEO team over at HSBC, they have been listening and working hard to play catch up. A quick look around this website and my Twitter feed will show you they are the one bank that I have received the most complaints about over the last few weeks/months, but things have been changing recently.

HSBC are one of a small number of banks that have entered into the spirit of the Bounce Back Loan scheme and allow both customers and non-customers via their Feeder Accounts get access to a BBL.

Whilst they number of applicants has overwhelmed them, they are trying to work through their backlog, and the recent launch of their Kinetic App (even though only available to those with an Apple device) has allowed many people unable to get a BBL from other lenders to apply for one. and much quicker.

Anyone having been stuck in their backlog should fire off and email to and one of the team at HSBC will call you back. Obviously give them all the information they will need to look up your feeder/business account application or BBL application in your email to them.

Please take a quick look at yesterday’s Bounce Back Loan update if you haven’t yet applied for a BBL, as you will get an insight into which lenders to approach for a Business Bank Account and then a BBL.

Glad to see that many of my Twitter account followers and lurkers have finally been invited to apply for a BBL by Starling Bank, it is just a waiting game now for those of you that were invited the other day, here is how the next stage progresses:

For those of you still getting nowhere, make sure you let us know of the problems you are facing, as there are loads of business men and woman still unable to gain access to a Bounce Back Loan, even though they are eligible for one. You are not alone and have not been forgotten, not by me anyway.

Tide’s Response to Their Problematic Waiting List

I have been banging on about the Tide waiting list for quite some time. In a nutshell if you are on that waiting list, and keep in mind they have no money to lend out, then you are likely to find that when you apply with another lender for a BBL you may initially get approved, but during the final checks, those being interbank checks some lenders will then decline you for being on that waiting list.

The reason for approval but then a decline is that other lender sees your name upon that waiting list as a BBL in progress, not simply being on a waiting list. Below is a tweet I sent to Tide and their official response about this situation:

Be aware though that despite what they are saying, people after July the 13th applying with other banks have still been declined for being on that waiting list.

If you find for example you get approved by but then are declined by Clydesdale Bank Yorkshire Bank or Metro Bank you will need to ask Tide for proof you have not got a BBL from them and supply that proof the respective bank to get the decline overturned.

This is madness but sadly it is something you need to do, as for who is to blame, well the British Business Bank do have Tide listed as an accredited lender even though they have no money to lend out, Tide have, or state they have told the British Business Bank about the problem with their waiting list and other lenders, but other lenders appear not to have been told hence them still declining people solely for people being on the Tide waiting list.

Thanks for the Donations by the Way

If you want to help keep me and this place going and can throw a few bob in the donation tip jar it is appreciated. Asking for donations was not my initial aim when I launched the Twitter account or the website, however they have both taken off and both are now consuming a lot of my time.

Been Declined a Bank Account or BBL?

Please read below for some reasons as to why you may be declined a bank account and/or a Bounce Back Loan with some lenders.

Many people who are declined tend to fear it is their credit rating/score that is the cause of a decline, and whilst that can and may play a part obviously, there can be a whole host of other reasons, some of which can be sorted out, and when the latter is the case you may find it much easier to open a bank account and/or obtain a Bounce Back Loan.

Some Lenders can and will and are in within their rights to decline anyone for an account and/or BBL based on their own criteria in additional to that laid down by the British Business Bank.

With that in mind, if you have checked all of the following and/or have been declined by one lender then you are also within your rights, and encouraged to apply to any other lender that is part of the Bounce Back Loan scheme.

Potential reasons not relating to credit score/rating

SIC Code – Not matching on companies house vs what you put in your application.

SIC Code – considered a reputational risk – you would be surprised how many business types fall into this category.

Directors/owners name(s) not matching companies house and/or

Voters roll e.g. Chris vs Christopher, as your middle name.

Business address not matching, has your accountant used their address to register? What is your correspondence address at companies house?

Business name not matching e.g. Ltd v limited

Recent changes of directorship and/or ownership – red flag at the moment due to BBL fraud

Markers registered against the company or director

Previous financial relationship with the bank or one its subsidiaries that did not end well


Many Bounce Back Loan applicants that have been through hell and still are experiencing problems have been offered compensation from a bank ranging from £50 up to £2500 for the more complicated problems.

It is your choice as to whether you accept any offer of compensation and the amount you accept too.