[Mike Burd]

The bounce back loan will have to be paid back if you read terms and conditions.

 They cannot come after your home or main work van.
Howevee they can come after you against other business assets/equipment.

Not if you go bust!

[jk999]

Whys everyone panicking about paying back the bounce back loan at 2 and half percent its a no brainer stick it in bank till you need equipment or a van trust me those who haven't bothered will regret it later when they are looking for a new van in a  couple of years at over 25 percent  ,and question for the one saying stick it in premium bonds will it make a fortune in premium bonds

[KS Cleaning]

Whys everyone panicking about paying back the bounce back loan at 2 and half percent its a no brainer stick it in bank till you need equipment or a van trust me those who haven't bothered will regret it later when they are looking for a new van in a  couple of years at over 25 percent  ,and question for the one saying stick it in premium bonds will it make a fortune in premium bonds

Over 25 % 😂😂😂😂😂😂😂😂😂😂😂😂🙈

[JandS]

Will it make a fortune in premium bonds...who knows but you get a free years worth of trying........I have a little bit invested in them and have had three £25 prizes in less than a year....probably more than I would have got in interest.

[NWH]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

[KS Cleaning]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

Far less? maybe so with a business loan, but if you have a good credit rating personal loans can be had for under 3%, so not that big a difference.
 That said the bounce back loans are easier to apply for and the 0% first year then 2.5% rate is guaranteed irrespective of your credit rating, I myself applied for a loan of 10k but have since decided against it and haven’t signed the agreement which expires tomorrow.
 Personally if I were taking out a bounce back loan I would try to repay as much as possible in the interest free first year.

[Shrek]

Same here , I nearly got one but decided against it too. The last thing I want if all goes tits up is a load of debt, il survive without it 

[dazmond]

There is absolutely no reason a window cleaner needs to get one of these loans unless you need a new van/system quickly or you have no substantial emergency fund built up.........

[zesty]

There is absolutely no reason a window cleaner needs to get one of these loans unless you need a new van/system quickly or you have no substantial emergency fund built up.........

That’s exactly it, if you want a van, it’s a great idea.

But debt is debt.

I have a feeling some, (yes, key word here is some) window cleaners will regret how much they borrowed in 2 years time.

[KS Cleaning]

There is absolutely no reason a window cleaner needs to get one of these loans unless you need a new van/system quickly or you have no substantial emergency fund built up.........

One size doesn’t fit all Daz! Some people have been affected more than others, what about those that are set up as Ltd company, those that employ, those that have lost a lot of commercial work, etc, etc etc?

[Mike Burd]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

Far less? maybe so with a business loan, but if you have a good credit rating personal loans can be had for under 3%, so not that big a difference.
 That said the bounce back loans are easier to apply for and the 0% first year then 2.5% rate is guaranteed irrespective of your credit rating, I myself applied for a loan of 10k but have since decided against it and haven’t signed the agreement which expires tomorrow.
 Personally if I were taking out a bounce back loan I would try to repay as much as possible in the interest free first year.

You’ll struggle to get 3%. Especially over £25k. 3% is an “indicative rate”. Almost no one gets it.

[jk999]

To be honest dasmond not everyone earns as much as you  ,im not trying to cause an argument but most of your post s are about earning massive amounts of cash even other day you had to brag about having 400 pounds stashed to one side is there any wonder why people put you down all time

[NWH]

People have set up LTD companies for Tax purposes etc so you can’t have it all,and Daz I think is just making a point he’s not bragging he’s just saying some people get so tetchy when it comes to talking about money on here.
So what he’s got 400 quid knocking about in his bag it ain’t gonna change his life much is it.

[KS Cleaning]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

Far less? maybe so with a business loan, but if you have a good credit rating personal loans can be had for under 3%, so not that big a difference.
 That said the bounce back loans are easier to apply for and the 0% first year then 2.5% rate is guaranteed irrespective of your credit rating, I myself applied for a loan of 10k but have since decided against it and haven’t signed the agreement which expires tomorrow.
 Personally if I were taking out a bounce back loan I would try to repay as much as possible in the interest free first year.

You’ll struggle to get 3%. Especially over £25k. 3% is an “indicative rate”. Almost no one gets it.

The post I replied to mentioned 15-20k not 25k. I also said you can get a loan at under 3%...if you have a good credit rating. I’ve had a loan of 20k @ 2.8% and a loan of 19k at 2.9%.

[Mike Burd]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

Far less? maybe so with a business loan, but if you have a good credit rating personal loans can be had for under 3%, so not that big a difference.
 That said the bounce back loans are easier to apply for and the 0% first year then 2.5% rate is guaranteed irrespective of your credit rating, I myself applied for a loan of 10k but have since decided against it and haven’t signed the agreement which expires tomorrow.
 Personally if I were taking out a bounce back loan I would try to repay as much as possible in the interest free first year.

You’ll struggle to get 3%. Especially over £25k. 3% is an “indicative rate”. Almost no one gets it.

The post I replied to mentioned 15-20k not 25k. I also said you can get a loan at under 3%...if you have a good credit rating. I’ve had a loan of 20k @ 2.8% and a loan of 19k at 2.9%.

Lucky you. I bought a new car and could only get 6.9%. A mate of mine was offered 11.9 on a motorhome. Both advertised 3% and both of us have flawless credit ratings.

Most people will get nowhere near 2.5%. That’s a fact.

[NWH]

You won’t get those kind of %s on the type of car-van I’m thinking of you’ll get nothing like 2.5%.

[KS Cleaning]

Exactly go and buy a van at 2.5% for between 15-20k you’ll pay far less in the long run than doing it through a normal business loan,far less.

Far less? maybe so with a business loan, but if you have a good credit rating personal loans can be had for under 3%, so not that big a difference.
 That said the bounce back loans are easier to apply for and the 0% first year then 2.5% rate is guaranteed irrespective of your credit rating, I myself applied for a loan of 10k but have since decided against it and haven’t signed the agreement which expires tomorrow.
 Personally if I were taking out a bounce back loan I would try to repay as much as possible in the interest free first year.

You’ll struggle to get 3%. Especially over £25k. 3% is an “indicative rate”. Almost no one gets it.

The post I replied to mentioned 15-20k not 25k. I also said you can get a loan at under 3%...if you have a good credit rating. I’ve had a loan of 20k @ 2.8% and a loan of 19k at 2.9%.

Lucky you. I bought a new car and could only get 6.9%. A mate of mine was offered 11.9 on a motorhome. Both advertised 3% and both of us have flawless credit ratings.

Most people will get nowhere near 2.5%. That’s a fact.

Aye my loans were for a car as well, I took two separate loans from two different lenders because as soon as you went over the 20k the interest rate increased. The car salesman was trying to get 6% out of me( no chance that was happening ) and surprised when I told him I could get the money at 2.85%😁

[KS Cleaning]

You won’t get those kind of %s on the type of car-van I’m thinking of you’ll get nothing like 2.5%.

Do what I did and you will ( two separate loans ).....that’s assuming you have a good credit rating and score high in affordability 😜

[Shrek]

I had 21k on credit cards zero percent, there’s other ways to borrow money if you don’t want to pay interest on a loan

[Ooooooog]

There is absolutely no reason a window cleaner needs to get one of these loans unless you need a new van/system quickly or you have no substantial emergency fund built up.........

What if you wanted to buy another business?