Clydesdale Bank Plc (which includes Yorkshire Bank and are both now Virgin Money) had a BBL drawdown value of £1,009.22, and as such were the ninth largest Bounce Back Loan lender. That represents 2.16% of the total BBL’s issued.
The following stats and figures are as per the latest BBL data dump that occurred on September the 14th, 2023.
However, to keep the true and shocking extent of the figures away from public eyes for as long as is possible, it was decided by the powers that be that the data only covers the actual state of play up until the 30th of June 2023.
Latest Headline Bounce Back Loan Figures
Before you Read On
If you are sat there in a dark place, worrying about Bounce Back Loan repayments that you cannot afford to make, or possibly are considering taking the Insolvency or Bankruptcy route as a Company Director or Sole Trader, or have defaulted on your BBL and are wondering why no one is chasing you, or your company strike off has been blocked and you are in limbo land, and/or just want someone to talk to before making a decision on how to proceed, feel free to give me a call.
You can contact me any day of the week on the number displayed above, all in complete confidence and never forget, as the following figures will prove, you are not alone in your current circumstances, no matter what situation you find yourself in, and you have plenty of options.
I have personally taken over 7,000 calls to date via my helpline and have chatted to many thousands more online, if you feel it’s your turn for a chat, it will be my pleasure to talk to you.
The pandemic sadly took a lot of victims and left others with very deep mental and financial scars, but as far as a Bounce Back Loan goes, you have plenty of options available to you.
Pick up that phone and give me a call.
Suspected Fraudulent Clydesdale Bank Bounce Back Loans
The suspected fraud figures for Bounce Back Loans issued by Clydesdale Bank is £11.69million which is 1.16% of their total BBL loan book. In respect of the value of Government BBL guarantee claims put in by this lender but with the reason for the claim being “fraud” that value is £5.19million read on for details of the additional Government Guarantee claims also put in and paid out.
Clydesdale Bank Bounce Back Loans Being Repaid on Schedule
The value of Bounce Back Loans from Clydesdale Bank that are being repaid as per the original agreement and therefore are on schedule is £445.99million.
Clydesdale Bank Bounce Back Loans In Arrears
The value of Bounce Back Loans that Clydesdale Bank hold that are in arrears is £37.28million.
- Loans with missed repayments are deemed to be in arrears.
- Loans are tracked in 30, 60 and 90 day cohorts by lenders to manage risk.
- Lenders report monthly arrears updates through the Scheme Portal on a “best endeavours” basis.
- Some lenders submit arrears via the automated (API) functionality in the Scheme portal, but it is not possible for smaller lenders to integrate with this functionality so arrears are entered manually.
- Loans in arrears that have moved to a later life-cycle stage (such as Defaulted) will be reported in the later life-cycle stage but may still carry arrears.
- At the time of this event occurring, this is an actual balance, and not estimated.
Value of Clydesdale Bank Bounce Back Loans in Default
As per the latest most up to date set of figures, the Defaulted Outstanding balance of Clydesdale Bank Bounce Back Loans is £9.75million.
- Defaults are Loans where the lender has issued a formal demand to the borrower.
- At the time of this occurring, this is an actual balance, and not estimated.
Value of Clydesdale Bank Bounce Back Loan Guarantee Claims Outstanding
As per the latest figures, Clydesdale Bank has £17.40million worth of Bounce Back Loans in a “claims outstanding” state.
- When Clydesdale Bank has submitted a claim under the guarantee, the loans sit in the claimed outstanding state whilst the British Business Bank awaits/processes the invoice for the claim and runs relevant checks.
- Under the terms of the guarantee the claim must be paid within 30 days of receipt of the claims invoice, however on average they get paid in 12 days.
- Guarantee claims can be submitted by Lenders each Quarter.
Bounce Back Loan Guarantee Claims Approved and Paid Out to Clydesdale Bank
The current value of Bounce Back Loan Guarantee claims paid out to Clydesdale Bank and settled is £131.39million.
- Once a BBL guarantee claim is processed and payment is released to Clydesdale Bank, the facility is marked as settled on the Scheme portal.
- Some lenders may be more advanced than others in their claims and recoveries processes which could lead to figures being distorted.
- Lenders may submit guarantee claims Quarterly in line with the terms of the guarantee.
Value of Clydesdale Bank Bounce Back Loans Repaid in Full by Borrowers
Some BBL Borrowers have of course repaid their loans in full, and currently the value of BBLs issued by Clydesdale Bank that have been fully repaid is £134.23million
Are They Jailing People for Bounce Back Loan Fraud?
They are indeed locking people up for BBL related fraud, and there is a section of the website dedicated to “BBL Jailbirds” listing exactly what some people did that led them to go before a Judge in Court, you will find it on the following link
Some additional sections of the website you may find of interest:
BBL Help and Support
I’ve been to the Treasury, the Palace of Westminster, Bank HQ’s and even the British Business Bank and chatted to many MP’s and Government Ministers about Bounce Back Loans, they all know many people cannot repay their loans and if you are sat there right now, possibly in a dark place worrying about repaying it, then be aware it’s not all doom and gloom if you have to default.
Please check out the following sections of the website for additional information as to the options available to you:
Struggling to Repay Your Bounce Back Loan?
If you are struggling to repay your Bounce Back Loan, firstly be aware you are not alone, have a read through some of the following guides and articles that I have put together, as it does have to be said the rules, which are unique to the BBL scheme are somewhat defaulter friendly:
>> You Should NOT Be Pursued for More Than 12 Months for the Recovery of an Unpaid Bounce Back Loan – Read and Watch the Official Statements / Comments from BEIS, the Financial Conduct Authority, and the National Audit Office
>> Please Do Not Be Afraid To Tell Your BBL Lender / Their Debt Collector You Are Vulnerable If You Are – They Won’t Turn Their Back on You and WILL Ensure You Get Fair Treatment and They CAN Write Off a BBL and STOP Chasing You For Repayment
>> The Final Nail in the Bounce Back Loan Coffin? – Read and Digest This Letter Offering “Substantial Discounts” to BBL Defaulters! Why Repay a BBL in Full When They Will Offer You Such a Deal? The Government and a Lender Asked to Respond
>> You’ll be Able to Confirm Yourself (If You’ve Defaulted) That BBL Lenders All Appear to Be Behaving Themselves (Currently) and Are Stepping Back and Ceasing All Recovery Action on Defaulted BBLs After 12 Months – If You Don’t Know Why, Read On
>> Defaulted On Your Bounce Back Loan? – Check The Date on the Demand for Full Repayment Letter Your Lender Sent You, As That is the Key to Discovering Whether You Are Passed the Point of Lender Recovery Action
Watch My Fireside Chat with the British Business Bank
Arrears and Collections Procedure
This is the arrears and collections procedure agreed between BBL Lenders and Government, that you may find of interest:
A Selection of Clydesdale Bank BBL Related News Stories
Do have a good look around the website for there are plenty of news stories, facts and stats and other information about all Bounce Back Loan Lenders and use the search box if you are seeking articles related specifically to Clydesdale Bank and their BBL scheme.
>> Trading to the Detriment of HMRC Leads to Two Co-Directors Being Hit with a 3 Year 6 Month and 4 Year Ban Respectively, at Liquidation Clydesdale Bank (Now Virgin Money) Also Put in a Claim for a £47k Bounce Back Loan
>> Financial Ombudsman Determines That Clydesdale Bank Were Within Their Rights To Deem a Business Applying for a Bounce Back Loan Was Not Trading Despite The Business Owner Saying They Had and Were Awaiting Payment for Work Done