[Arnold Palmer]

I applied for mine just now. 2.5% unsecured, no fees? No brainer.

[jk999]

If you take the loan are you still entitled to the self employed grant

[P @ F]

Yes

[jk999]

Ok 🙂

[Don Kee]

Morally, where do you lot who are just taking this loan “because you can” stand on this?

I’m a little bit conflicted with this (although I am/was a conflicted with the self employed grant but that’s another thread).

It makes good sense to take this loan whether you carried on working or not and use it to boost your business or settle a vehicle debt etc... but it does specifically say to only apply for this loan if you have been adversely effected by the virus.
Surely the point of the loan is to use it to stay afloat rather than using the situation to profit..?

Genuine moral question... 

[dazmond]

I think theres a lot more skint window cleaners about than we think.....

[High-Tower]

Morally, where do you lot who are just taking this loan “because you can” stand on this?

I’m a little bit conflicted with this (although I am/was a conflicted with the self employed grant but that’s another thread).

It makes good sense to take this loan whether you carried on working or not and use it to boost your business or settle a vehicle debt etc... but it does specifically say to only apply for this loan if you have been adversely effected by the virus.
Surely the point of the loan is to use it to stay afloat rather than using the situation to profit..?

Genuine moral question...

morality doesn't come into it. this hasn't even began to bite, just because you haven't lost any earnings it doesn't mean your business wont be negatively affected in time. redundancies are coming, and a lot of people will be tightening their budgets in general.

[High-Tower]

I think theres a lot more skint window cleaners about than we think.....

of course there is, most of the country is skint. but window cleaning is a cheap and easy business for people who have found themselves up against it with mortgages to pay and families to feed.

[Don Kee]

morality doesn't come into it. this hasn't even began to bite, just because you haven't lost any earnings it doesn't mean your business wont be negatively affected in time. redundancies are coming, and a lot of people will be tightening their budgets in general.

Yes, you could be right for the future but that’s also you making up your own rules to fit.
It says whether you have been adversely affected,  presently, not whether you think you might be in the future.

I’m not judging people for taking the loan out, as I said previously, I can see the temptation.
I’m tempted myself.

But I (and as a few on here have already admitted) don’t need it to “bounce back”.
We’d be using the situation and system to  benefit.

Is it right...

Dunno but I guess by asking a bunch of window cleaners I’m not going to get a decent answer anyway 

[LT carpet cleaning]

It will get worse I think , people in Plymouth are out in the city and waterfront spaces in the hundreds today , police have been out on mass trying to disperse the idiots 
Keep it tight I say

Are they all applying for bounce back loans?

Who knows , I was simply putting it out there that this country is full of feckin idiots that think the last 6 weeks have been just for a laugh , if we get a second wave then no amount of bounce back is going to help 

Correct. Enough dickheads even on here boasting about working and visiting their girlfriend etc. Morons. Utter morons.

Absolutely nothing wrong with doing both of those things....

Cheer up.....you ll be dead soon......

Thankfully the selfish and the stupid will beat me to it. 

[Arnold Palmer]

Morally, where do you lot who are just taking this loan “because you can” stand on this?

I’m a little bit conflicted with this (although I am/was a conflicted with the self employed grant but that’s another thread).

It makes good sense to take this loan whether you carried on working or not and use it to boost your business or settle a vehicle debt etc... but it does specifically say to only apply for this loan if you have been adversely effected by the virus.
Surely the point of the loan is to use it to stay afloat rather than using the situation to profit..?

Genuine moral question...

Lol, there's no moral issue, it's a loan.

My business will be feeling this for a while as will many others. Borrowing at a decent rate will help in the medium term.

[P @ F]

I’m not taking it to benefit let’s say , I won’t be using it to buy a van that I don’t really need , I have no wish to expand .
For me it’s a safety net of sorts , I have been a tad foolish with regard to new equipment and overdraft facilities in the past couple of months , in a minute the reality of this situation is going to bite hard .
My plan is to clear what I have run up and pay it back at a far less interest rate .
There’s no right or wrong in taking it in my eyes , it is what it is and that is a welcome help to keep the little man from folding

[jk999]

Gomo hope you dont mind me asking but what are the repayments on that ten grand and also did they need proof that you was earning around 30 grand a year profit

[Granny]

For me.
Sage advice from no other than Will Shakespeare.
"Neither a Borrower Nor a Lender Be"
We're in a very different world financially than we were a few months ago and it would be easy to just grab what we can, because we can.
Unsecured or not, it can still come back one day and bite you in the a**e.

[NWH]

Forget morals think about yourselves if you think you need or you will do take it,do what’s right for you and you’re family.
When 4-5 months come round you might have wished you did take it,if it’s as people have said means tested then I would think you will need the 10k,that won’t go far if you’ve lost loads of work and have bills to pay while you are trying to recover what you’ve lost.

[Slacky]

What has morality got to do with it? The Govt will be getting it back with interest.

It's not a grant.

[NWH]

Very small amount of interest though.

[G Griffin]

I'm going to get the loan to pay back the grant to help the government out.

[Slacky]

Very small amount of interest though.

Its interest. The Govt are getting back more than theyre lending out. Its simple arithmetic.

[NWH]

🤣 🐀