[jo5hm4n]

Mine Loan was successful came through this morning.  Managed to get 20k  in total.  For now going into a low interest savings account, and it will be my backup money incase the world goes even more to Sh｣｣$$&###.

Nobody knows for sure how long this virus will affect "life" until there is a Vaccine.  So for that reason alone i am happy having a good chunk of money incase everything goes t1ts up atleast i have some backup funds.

 

If everything goes t1ts up how will you repay the loan?

I知 getting the feeling that some (not aimed at you Josh) seem to think they will be paying just the interest back. Remember, if you want to keep the whole ｣10k you will need to pay back ｣40 a week approx over 5 years but 6 years in total. Just putting it out there 👍

It depends what your definition of T1ts up is.  My version of that is, some sort of major disaster where my business is  no longer profitable.  In that situation i would have to use the money to pay my bills and staff until either business returns to be profitable or worst case scenario i have to sell the business pay debts off and declare bankruptcy.  If things really went T1ts up, i would probably declare for bankruptcy and then i wouldn't be paying back the loan anyway.

This is all end of the world type stuff, like really bad disaster.  Our businesses seem to be pretty well bomb proof.

I get what you are saying though, and some people are not very good at budgeting or saving money, so they will treat this loan like a payday.  These are the same people who get a credit card for "emergencies" and then before you know it, they've maxed it out on some holiday or something for the house.  I spend my money wisely, and save save save thankfully!

I hit a point where i nearly didn't have enough to pay my staff back in 2018 because my finances totally reversed for first time in 6 years,  but now im getting back on track.  My goal in life is to always have enough savings to life for 6 months if you couldn't work.  I just think it's a good safety net, but this loan helps too! 

[G Griffin]

Ewan McGregor? It was Nick Leeson and you can't compare him to the government.

[Stoots]

One of the benefits of putting it through a ltd company. No directors guarantee on this loan.

[CleanClear]

Mine Loan was successful came through this morning.  Managed to get 20k  in total.  For now going into a low interest savings account, and it will be my backup money incase the world goes even more to Sh｣｣$$&###.

Nobody knows for sure how long this virus will affect "life" until there is a Vaccine.  So for that reason alone i am happy having a good chunk of money incase everything goes t1ts up atleast i have some backup funds.

 

How will that pan out with HMRC ? You'll have a 20k income into your business not invested in anything , will you pay tax on it ?

[S.A.J]

Got our 30k today 🥳 will use it to pay all van finances off and replace some poles 

Applied 9am yesterday and money in our account 2pm today!

Not as good as the grants but better than nothing 

[P @ F]

Who you bank with Stu ?

[Slacky]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

[P @ F]

1 of them must be mine 

[spudd]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

Sorry you got 3x20k payments

[Bungle]

I知 going to apply for one of these grants and then do a runner to Mexico.


Oh.

[G Griffin]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

Go on, you little Commie, you.
I don't mind my taxes being spent on something that I didn't agree to if it helps the workers.
It doesn't look like we're running out of other peoples' money to spend yet.
Fill yer boots; it'll have Margaret spinning in her grave  .

[Slacky]

We wont be running out of money, that happens when your Commie mates are running the show.

[G Griffin]

It's State help, Comrade; paid for by the taxes of others.
Those taxpayers didn't all agree to it but it's for the greater good. The Commieservatives will be borrowing and taxing to help the workers.
It's just a pity it took a disaster to force their hand.

[S.A.J]

Who you bank with Stu ?

Bank of Scotland

[Ooooooog]

Got 35k. Gonna spend it all on protekta balls.

[CleanClear]

Bounce back loans, the new Toilet Rolls on the Supermarket shelves 

[LT carpet cleaning]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

Got my 20K too. All in one deposit tho. I知 NatWest. Strange you had 3 deposits Slacky.

[LT carpet cleaning]

Bounce back loans, the new Toilet Rolls on the Supermarket shelves 

That genuinely made me chuckle 

[deeege]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

Got my 20K too. All in one deposit tho. I知 NatWest. Strange you had 3 deposits Slacky.

What was the application process/timeline like with NatWest?

[LT carpet cleaning]

I applied yesterday for 20K and they made three separate deposits each of that amount into my business account this afternoon.

Got my 20K too. All in one deposit tho. I知 NatWest. Strange you had 3 deposits Slacky.

What was the application process/timeline like with NatWest?

Applied Wednesday pm. Was in my account this morning. Extremely easy application process.
There痴 a 2 stage sign off which would be complicated if you have a fellow director.
But as I知 the only signee it was very quick.