BBL Questions Answered – Mr Bounce Back – Bounce Back Loan Complaints and Scandals

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[ March 24, 2023 ] Over £150k in Dodgy Bounce Back Loan Funds Found Stashed in a Car as the Occupiers Made a Dash for the Euro Tunnel Todays News
[ March 24, 2023 ] 6 Year Disqualification for Not Providing Any Evidence the £32,500 Bounce Back Loan He Got For His Business Was Actually Used for the Business The Disqualification Files
[ March 24, 2023 ] Director Given a 10 Year Disqualification for the Usual “Over-Egging of Business Turnover” to Blag HSBC Out of a £50k Bounce Back Loan, Leaving it Unpaid and Taking the Insolvency Route The Disqualification Files
[ March 24, 2023 ] Two Sole Traders Hit with 7 Year Bankruptcy Restrictions Orders for Over-Egging Their Turnover to Blag A Bounce Back Loan Each The Disqualification Files
[ March 22, 2023 ] Rishi Sunak’s Tax Return Has Been Sneaked Out Under the Cover of Boris Johnson Being Grilled by the Committee of Privileges – Come and Take a Look At It Todays News
[ March 21, 2023 ] Company Director Blags SIX Bounce Back Loans for His Six Businesses By Over-Egging The Turnover of Each of Them, Leaves Each Loan Unpaid and Walks Off With a 10 Year Ban The Disqualification Files
[ March 18, 2023 ] So You Have Missed 3 Bounce Back Loan Repayments, Received the Demand for Full Repayment and Default Letters, 12 Months Later the Lenders Nominated Debt Collector Has Given Up Trying to Contact You, What Happens Now? Subscriber Special
[ March 16, 2023 ] Getting a £25k Bounce Back Loan Off HSBC When Only eligible for a BBL Worth a Tad Over £10k By Over-Egging His Company’s Turnover Leads to an 8 Year Disqualification The Disqualification Files
[ March 16, 2023 ] Over-Egging His Company’s Turnover to Blag a £50k Bounce Back Loan Off Barclays Leads to Another Company Director Getting a 10 Year Ban The Disqualification Files
[ March 16, 2023 ] Joint Directors Both Slapped with Extremely Lenient 4 Year Disqualifications for Not Using Their Company’s Bounce Back Loan from Metro Bank for the Benefit of that Business The Disqualification Files
[ March 15, 2023 ] Blagging a £50k Bounce Back Loan Shortly After Signing a Striking off Application to Get His Business Dissolved and Not Telling the Bank Leads to a 6 Year Ban The Disqualification Files
[ March 15, 2023 ] Using Funds from His Company’s Bounce Back Loan for Personal Benefit and Not Supplying any Accounting Records to the Liquidator Leads to a 7 Year Disqualification The Disqualification Files
[ March 15, 2023 ] Taking the Insolvency Route Led to a Liquidator Uncovering an Over-Egged Turnover Regarding a Metro Bank Bounce Back Loan Application, Which Has Resulted in a 10 Year Ban for a Company Director The Disqualification Files
[ March 14, 2023 ] Bagging Two Huge Coronavirus Business Interruption Loans for His One Single Business Using False Bank Statements Leads to a 12 Year Disqualification The Disqualification Files
[ March 13, 2023 ] Not Using a £50k Santander Bounce Back Loan and a £50k Barclays BBL for the Benefit of His Two Businesses Leads to an 11 Year Ban The Disqualification Files

March 27, 2023

Can I apply for a CBILS and a BBL?

June 7, 2020

A business is not able to take out a Bounce Back Loan Scheme facility if they have been approved for a CBILS facility, and vice versa. However, a business that has a CBILS facility can […]

Can I reapply if I am declined?

June 7, 2020

If a business’ application was declined by an accredited lender then the business is able to make a further application under the Scheme to another accredited lender. More BBL Questions Answered Can I Apply for […]

Can I Apply for BBL for Different Businesses?

June 7, 2020

Businesses are entitled to one Bounce Back Loan Scheme facility per separate business unless the business is a group which is a holding company at the top of their structure. More BBL Questions Answered Can […]

Does the BBL Scheme support all businesses?

June 7, 2020

The Scheme is open to most UK businesses, regardless of turnover, who self-declare they meet the eligibility criteria. For some businesses, who self-declare as being a “business in difficulty” on 31 December 2019, there may […]

What happens if I struggle to repay a BBL?

June 7, 2020

You should talk to the lender if you are experiencing financial difficulties and they will have standard processes in place to support customers in those circumstances. Lenders are not permitted to require personal guarantees for […]

What Can I Use A Bounce Back Loan For?

June 7, 2020

The business must confirm to the lender that the loan will only be used to provide an economic benefit to the business, for example providing working capital, and not for personal purposes. If the business […]

What protections do I have?

June 7, 2020

For lending outside the Bounce Back Loan Scheme, the Consumer Credit Act ordinarily requires lenders to provide sole traders, small partnerships and unincorporated associations seeking finance up to £25,000 with information before a loan is […]

What BBL Checks will I be subject to?

June 7, 2020

Applicants are required to self-declare they meet the eligibility criteria for the Scheme. Applications from eligible borrowers will be subject to customer fraud, Anti-Money Laundering (AML) and Know Your Customer (KYC) checks. More BBL Questions […]

Can I repay a Bounce Back Loan early?

June 7, 2020

Early repayment is permitted at any stage, without early repayment fees.. More BBL Questions Answered Can I Apply for BBL for Different Businesses? What Can I Use A Bounce Back Loan For? What protections do […]

How much am I meant to repay with a BBL?

June 7, 2020

Businesses are not required to make repayments for the first 12 months but will still have to repay the loan and any interest after 12 months. More BBL Questions Answered Can I Apply for BBL […]