[Stoots]

Applied for 10k, 48 hours later and its in my account.

That'll do nicely for a new van once we get back to normal 

Interest free for a year then just 2.5%... Won't get cheaper finance than that.

Worth a shout for anyone considering finance, particularly if your credit rating isn't great as there are zero eligibility checks.

[zesty]

How do the repayments work after a year Adam?

Set monthly over 6 years? Can you reduce this to say, 2 years?

[Slacky]

Applied for 10k, 48 hours later and its in my account.

That'll do nicely for a new van once we get back to normal 

Interest free for a year then just 2.5%... Won't get cheaper finance than that.

Worth a shout for anyone considering finance, particularly if your credit rating isn't great as there are zero eligibility checks.

How many years are these spread over?

[Perfect Windows]

How do the repayments work after a year Adam?

Set monthly over 6 years? Can you reduce this to say, 2 years?

Initially set as a 6 year loan. Interest Y1 paid by the government then 2.5% and you can pay back early at any time with no penalties.

Vin

[NWH]

Sod that.

[G Griffin]

Applied for 10k, 48 hours later and its in my account.

That'll do nicely for a new van once we get back to normal 

Interest free for a year then just 2.5%... Won't get cheaper finance than that.

Worth a shout for anyone considering finance, particularly if your credit rating isn't great as there are zero eligibility checks.

How many years are these spread over?

Get your name down, you little Commie, you.

[Slacky]

I was asking for you, you’re gonna need it soon Mr Scargill.

[G Griffin]

I was asking for you, you’re gonna need it soon Mr Scargill.

"Money's not my God, Nev".
But I'll follow Norman Tebbitt's advice and get on my bike and help myself if I need some.
We're used to this up here since Margaret cast us aside. There'll be no taxes forthcoming though.
I can be a capitalist too.

[Stoots]

Would also be a smart move if you already have outstanding finance at higher terms, either loans, hp or credit cards etc to to take the loan and pay it off.

I'm keeping hold of the money for a few months to see what happens, i think it would be daft to blow it right now but at a years interest free no harm in taking the loan and sticking it in savings for a year, if I decide I don't want it then just give it back.

[Jonny Swirljet]

I'm still feeling cautious about the amount of people who once this lock down is over find they have no job to return to or if there is a second pandemic in the near future. 

[Shrek]

Can you only get one if you have a business bank account or can you have a personal account and get one ?

[Ste b]

Can you only get one if you have a business bank account or can you have a personal account and get one ?

https://www.moneysavingexpert.com/news/2020/05/small-business-boost-as-bounce-back-loans-launched/

[NWH]

Don’t borrow the money for treats protect the NHS.

[Shrek]

Don’t borrow the money for treats protect the NHS.

It’ll be paid back a lot quicker than the 7.5k handouts! Thinking of investing it , making some quick cash then pay it back end of the year. Then claim 10k as a business expense 

[deeege]

If I was still trading as a LTD company I’d definitely get one of these loans to either pay off any finance I had or for payment towards a van. The interest and terms seem incredible, far better than any personal or business loan.

[Ooooooog]

If I was still trading as a LTD company I’d definitely get one of these loans to either pay off any finance I had or for payment towards a van. The interest and terms seem incredible, far better than any personal or business loan.

This. Mad not to.

[mufcglen]

Can you claim it if you are going to claim the self employed thing next week or will it affect what you claim with that?
Also can you use a personal account rather than business account?

[KS Cleaning]

If I was still trading as a LTD company I’d definitely get one of these loans to either pay off any finance I had or for payment towards a van. The interest and terms seem incredible, far better than any personal or business loan.

I know you changed from LTD company to sole trader last year, more or less ruling out the self employed grant for yourself. Not sure if it’s available in other parts of the country but here in Scotland there is a hardship grant of £2000 available to those who started trading after April 5th 2019, might be worth looking into?

[Ste b]

Can you claim it if you are going to claim the self employed thing next week or will it affect what you claim with that?
Also can you use a personal account rather than business account?

Yes you can get both and yes you can use a personal account.

[deeege]

If I was still trading as a LTD company I’d definitely get one of these loans to either pay off any finance I had or for payment towards a van. The interest and terms seem incredible, far better than any personal or business loan.

I know you changed from LTD company to sole trader last year, more or less ruling out the self employed grant for yourself. Not sure if it’s available in other parts of the country but here in Scotland there is a hardship grant of £2000 available to those who started trading after April 5th 2019, might be worth looking into?

It’s all means tested though, not available to anyone with savings.