We are now at the stage of the Bounce Back Loan scheme when it should be obvious to those of you who took out one of those loans whether you can afford to pay it back, are going to struggle to do so or have no chance whatsoever of repaying that loan.
Also, you should have a good idea as to whether your business has Bounced Back, is on the way to doing so, will have some hard times ahead or even is at the point of no return and needs to be wound up/closed down.
Therefore I decided it was time to record another of my Fireside Chats, but this time I wanted to sit down with the people who were tasked with designing the scheme rules and making it live and also the lenders that were part of the scheme too.
As such I managed to arrange a meeting with Patrick Magee from the British Business Bank and Stephen Pegge from UK Finance the latter being an organisation that represents 28 of the BBL lenders.
No topic was off the table regarding Bounce Back Loans, and fair play to both Patrick and Stephen they did answer every question I put to them.
I am just waiting for the film crew to send over the footage, and then I will get it out there for you to watch.
Some of the topics we discussed were:
- Enforcement Action
- Arrears/Missed Payments
- Additional Tailored Support
- BBL “Suspected” Fraud
- Yanking of Lender Guarantees
- BBL Facts and Figures
- Case Against Naming of all BBL Recipients
- Much More…
In the interest of openness the cost of the film crew will be split 50/50 between me and the British Business Bank and once all footage is delivered at my end, I will be editing it all together.
Keep in mind I keep Mr Bounce Back running with donations and website subscriptions, so if you want to do so and can afford to do so you can either donate here:
Or subscribe to the website here:
Once this video is live and out there, I am planning to launch a “Fireside Chat Line” (or whatever name I decide best befits it!), which is basically a direct phone number you can use to contact me, anonymously if you prefer, if you have a Bounce Back Loan and just need a chat about anything that is worrying you.
The aim is not to offer financial or legal advice, but to offer someone for you to talk to (me) if you just want a chat about your current situation with your BBL, as I know its not a subject that you can usually have with most other people, and your BBL may be causing you stress or worries.
As many of you already know who have contacted me via email or on Twitter, I do already make many such phone calls each week, but some of you may prefer to anonymously contact me and/or just need some reassurance or want to chat to someone about your BBL to help you make sense of things, who isn’t going to judge you.
I will of course let you know when the video is live, and once it is I will then give you details of how to contact me for an off the record and if you want, an anonymous chat.
As always, a big thanks to my current and past website subscribers and to those who have donated, your help allows me to concentrate so much of my time to this cause.