Looking Back at Week Twenty Five of the Bounce Back Loan Scheme

Imagine having been told you qualified for a Bounce Back Loan back in early May 2020 only to find that 25 weeks later you still had not been given the chance of getting one, well that was something no end of people were still experiencing in week twenty five of that scheme, that week covered by the way the 19th of October through to and including the 25th of October 2020.

As you will see if you watch the video below all manner of problems were being experienced by those caught up in the never ending saga of the BBL scheme, those messages you will see in that video are just a tiny percentage of those I did receive but will give you some idea of what many people were going through.

Below you will see an overview of anything that did happen of interest and an insight into the many ongoing problems that were still being experienced throughout week twenty five of the Bounce Back Loan scheme.

My Weekly Round-Up of the Bounce Back Loan Scheme for week twenty five will give you a good idea of some of the never ending problems people were experiencing, what did upset many people was that the British Business Bank CEO were Oblivious to Bounce Back Loan Problems and that organisation which is Government owned did very little to help with problems people were experiencing.

As most Lenders Started Winding Down Their Bounce Back Loan Schemes the approved BBL figures proved they were not as overwhelmed as they all claimed to be as those figures proved Less Than 5 Bounce Back Loans were Approved on Average Per Hour.

It was also a fact that Bounce Back Loan Brokers were Causing Added Misery for SME’s as many of them charged an initial fee and often demanded of a percentage of any BBL they got for a business owner, and I had issued warnings about using brokers, as none of them were able to do anything a business owners couldn’t do to get a BBL and most were ripping people off.

I put together an articles titles Worries, Stress and Emotions During a Lockdown as lockdowns appeared to be never ending and for many people it was all getting too much.

It was true to say that Many MP’s Refused to Help with Bounce Back Loan Problems as some simply didn’t have the time or experience of that scheme to help, but there were quite a number who did go above and beyond what was expected of them and did help many people get a BBL by pulling a few strings behind the scenes.