August 26th Bounce Back Loans Update

UPDATE 09:20: New accredited BBL Lender Announced:

close a limited company

Conister Visit Their Website

There isn’t one Bounce Back Loan accredited lender that hasn’t made mistakes or hasn’t added to the misery of BBL applicants in one way or another over the last three months or so, however it is always good to see a flurry of applicants finally getting their loans processed and paid out.

Last Friday my screen lit up over on my Twitter account with messages and tweets sent by many followers and lurkers letting me know they had finally been invited to apply for a BBL with Starling Bank.

Now you should be aware if you have been looking around this website or perusing my Twitter feed, Starling have their own set of rules and criteria bolted on top of the standard criteria regarding getting a BBL from them, and whether we like it or not that is within the rules set out by the British Business Bank.

Yesterday, Starling approved a couple of dozen of my followers and lurkers and then went on to pay them out yesterday evening too. Admittedly they did decline a couple of my followers/lurkers, and my advice if you have been declined by Starling is to apply with any of the other banks that are accepting new customers and letting them apply for a BBL, as many people declined by Starling have got a BBL elsewhere.

Obviously, there are going to be many other people who were also approved and possibly declined by Starling yesterday who are blissfully unaware of this website and my Twitter account, but facts speak louder than words and to see so many people I know of approved is always good to see.

HSBC have also been working their way through their backlog, and once again if you have been waiting and waiting for a feeder or business account or a BBL from that bank and are not making any progress then email the CEO team (Noel Quinn directly) and you will get a phone call back, and they will allocate a case handler to help move things along.

There is still a deafening silence from the British Business Bank as to whether they are currently in the process of accrediting any new BBL lenders and HM Treasury are not releasing weekly figures any more regarding the number of BBL’s approved each week, having decided to stop releasing those figures each week and reporting them monthly instead. It is obvious why they have made that weird/cowardly decision.

It still horrible fact of life that so many people are having to apply for a business loan via the BBL scheme to save their businesses through no fault of their own, and getting such a loan is proving harder and harder due to the unwillingness of many lenders to let new customers apply for an account and/or a Bounce Back Loan.

But keep the faith and keep on trying, and for those of you that are not aware the scheme is due to close on November the 4th, so there is still time for things to change for the better.

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.