Frequently Asked Questions – Mr Bounce Back – Bounce Back Loan Complaints and Scandals

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[ 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 13, 2023 ] 12 Year Ban for Company Director Who Purchased a Dormant Company Then Went on to Blag Starling Bank Out of a £40k Bounce Back Loan The Disqualification Files
[ March 13, 2023 ] Using the Majority of Her Company’s £50k Barclays Bounce Back Loan for Personal Benefit and Leaving it Unpaid at Liquidation Leads to a 6 Year Ban The Disqualification Files
[ March 10, 2023 ] The Chef, The Model and the Missing Millions – The Inside Story of a Crime Gang That Stole Millions of Pounds in Bounce Back Loans Subscriber Special
[ March 9, 2023 ] Man Claims He Was Approached on a Building Site and Offered £2k in Cash to Become a Director of a Company Which Went on to Blag £30k in Business Support Grants and a £50k Bounce Back Loan, He Has Just Been Given a 6 Year Ban The Disqualification Files
[ March 9, 2023 ] Company Director Whose Last Known Address is in New Zealand Banned for 8 Years for Blagging Two Bounce Back Loans, One from HSBC and One From Starling Bank for His Single Company The Disqualification Files
[ March 8, 2023 ] The Public Accounts Committee Confirm What Everybody Knew Regarding Support for SME’s During the Pandemic “Several Million Who Needed It Received No Support”, Rishi Sunak States “Lots of the Excluded Were Probably Not Conservatives in the First Place” Todays News

March 19, 2023

What term can I borrow a BBL over?

June 7, 2020

Loans under the Bounce Back Loan Scheme are available over a fixed six-year term More Bounce Back Loan Questions and Answers What term can I borrow a BBL over? What BBL fees/interest will I be […]

What BBL fees/interest will I be required to pay?

June 7, 2020

The government has set the interest rate for this facility at 2.5% per annum. Lenders are not permitted to charge any fees. More Bounce Back Loan Questions and Answers What term can I borrow a […]

When do I have to start BBL repayments?

June 7, 2020

The borrower is 100% liable for repaying the loan and any interest. The government will cover interest payable to the lender for the first 12 months. The borrower will then need to make full repayments […]

What products are offered on the BBL Scheme?

June 7, 2020

Accredited lenders are only permitted to provide term loans under the Scheme. The Scheme is targeted at supporting those businesses who need access to finance quickly and, therefore, requires lenders to offer a standard product. […]

How long will it take me to get the BBL funds?

June 7, 2020

The Scheme has been designed to enable businesses to access finance quickly. Businesses are required to complete an online application form, which is expected to be assessed by their lender within a matter of days. […]

How much can I apply for with a BBL?

June 7, 2020

Businesses can apply for between £2,000 up to 25% of their turnover, the turnover being from the calendar year 1st January 2019 to December 31st, 2019. The maximum loan available under the Scheme is £50,000. […]

How long is the BBL scheme open?

June 7, 2020

The Scheme is intended to be a temporary response to the unprecedented challenges to businesses as a result of coronavirus (COVID-19). The Scheme will initially open until 4 November 2020, with the government retaining the […]

How do I apply for a Bounce Back Loan?

June 7, 2020

The Scheme will be available through the British Business Bank’s accredited lenders. Businesses will be required to fill in a short online application form and self-declare that they are eligible for the Scheme. In the […]

Am I eligible for a Bounce Back Loan?

June 7, 2020

The Scheme is open to most businesses, regardless of turnover, who meet the eligibility criteria and who were established on or before 1 March 2020. Borrowers are required to declare, amongst other things, that: The […]

What is a Bounce Back Loan?

June 7, 2020

The Bounce Back Loan Scheme is a new scheme introduced to help smaller businesses impacted by coronavirus (COVID-19). It aims to assist those businesses to borrow between £2,000 up to 25% of a business’ turnover […]