Week Twenty Two of the Bounce Back Loan Scheme

Every single week of the Bounce Back Loan scheme I received plenty of complaints for those seeking a BBL or cries for help from those still desperate to get a chance of at least applying for one, week twenty two was no different and that week covered the days from the 28th of September through to and including the 4th October 2020.

close a limited company

I have, as I always done with these weekly overviews, compiled a video below in which I have selected just a small sample of the ever growing number of messages I received during week twenty two to give you some idea of what people were going through and experiencing that week.

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 two of the Bounce Back Loan scheme.

Complaints always flowed in regarding just how long it was taking Barclays to open up accounts for those that had originally applied for one, and it was certainly the case many of them would end up waiting weeks or months to finally get a business account opened, and then were often faced to wait even longer before they could then apply for a BBL with that bank.

Starling had their waiting list in operation during this week in fact they had it in place more or less since the day they launched their BBL facility, and sadly as was always the case each week, when a few people did finally get invited to apply after being on that waiting list for weeks or months, they did end up getting declined.

HSBC did always pay those who had applied for a feeder account, managed to get one opened and then applied for a Bounce Back Loan, but the timescale from start to finish could be months, which did drive many people to distraction, however this week much like most others there were a steady stream of messages sent to me from those who had received their loans.

As for Metro Bank, well they were being as fussy as ever during this week of the BBL scheme, and would always demand a slew of additional documents from those applying for a Bounce Back Loan with them and there was always the real risk that they would decline anyone, much more so if they did not like the market sector they operate in.

Bounce Back Loan News Stories from Week Twenty Three

Bounce Back Loans Unenforceable and Toxic?

Open Letter to the New British Business Bank BBL Team Director

Are Barclays Finally Aware of the Bounce Back Loan Rules ?

Ongoing Problems with the Bounce Back Loan Scheme

Bounce Back Loan Fraud the Elephant in the Room

Metro Bank Bounce Back Loans Complaints