Bounce back loan

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loky11

Active Member
I don't have a business account, and wanting to apply for bbl what banks are offering it to non business account holders? Starling arnt accepting anymore applications.
 

loky11

Active Member
None that I’m aware of. Tide will let you open a business account and apply straight away
f**k**g hell, was hoping I didn't have to open one, paying them a small fee for something I don't really need is putting me off but I want a new van :LOL:
 

owls

Private Member
It’s based on last years turnover 20% of it,as to how much you can borrow and I think most banks have now suspended it as stuff gets back to normal I guess.i got the maximum of £50k as our turnover is over £250k
 

johniosaif

Private Member
I've enquired about it and been told I can apply for one but it will require me to open a business account.
Yes , once you are a business and can prove it through hmrc , you are eligible for a bbl, but you’ll probably have to open a business account, ,
 

Ashleymcduff

Well-Known Member
Yes , once you are a business and can prove it through hmrc , you are eligible for a bbl, but you’ll probably have to open a business account, ,

so I have a ltd business registered and a business bank account which was set up in jan and waiting to April / new tax year to start using it but covid19 haven’t traded under it or had a penny go in the bank account and I could of got one ??
 

johniosaif

Private Member
so I have a ltd business registered and a business bank account which was set up in jan and waiting to April / new tax year to start using it but covid19 haven’t traded under it or had a penny go in the bank account and I could of got one ??
Doubtful, it was the last 2/3 years they were looking at , my Mrs does it for a living with mortgages also
 

loky11

Active Member
Ive been a sole trader for the last 7 years, with just a personal account, and I know a few others that have applied without business accounts and have got them so it's worth a try isn't it?
 

johniosaif

Private Member
Ive been a sole trader for the last 7 years, with just a personal account, and I know a few others that have applied without business accounts and have got them so it's worth a try isn't it?
Off course , try for it , you have a business
 

OCDC

New Member
MoneySavingexpert.com has a list of all banks offering loans and there requirements whether you need personal/business account. It’s 25% of turnover
 

owls

Private Member
It’s a no brainer as others have said, money will never be as cheap to borrow. using for a new van for instance, pay it back over 4 years at 2.5% plus right down on your tax bill over 4 years.
 

Kinkyboy

Well-Known Member
Who said there have stopped bbl for now? How the he'll do you know? There available until November,makes me laugh sometimes on here.and you don't need a business to get one you can be a sole trader
 
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