Bounce Back Loan Scheme.

[SimonG]

Any body been tempted by the BBL scheme?

Thought I would give it a go, but a real mare with Barclays.

 

[Scott_D]

I haven’t as I don’t need it but have been tempted to apply and invest.
I just don’t know what I would invest in.
Is it easy to apply?

 

[SimonG]

I haven’t as I don’t need it but have been tempted to apply and invest.
I just don’t know what I would invest in.
Is it easy to apply?

There lies the issue.

I've been trying since 4th May with Barclays but cant get near the application process. Some sort of glitch on my account, in fact lots of peoples accounts.

My son, didn't know anything about it last week. Applied with NatWest and two days later money was in the account.

So it's either incredibly fast or excruciatingly slow.

What draws me is 12 months payment and interest free then 5 years at 2.5% interest. Cant get them terms anywhere.

 

[Scott_D]

There lies the issue.

I've been trying since 4th May with Barclays but cant get near the application process. Some sort of glitch on my account, in fact lots of peoples accounts.

My son, didn't know anything about it last week. Applied with NatWest and two days later money was in the account.

So it's either incredibly fast or excruciatingly slow.

What draws me is 12 months payment and interest free then 5 years at 2.5% interest. Cant get them terms anywhere.

Do you choose the amount or are you given a maximum you are eligible for?

 

[SimonG]

Do you choose the amount or are you given a maximum you are eligible for?

Its 50k max 2k min. 25% of turnover.

 

[rpm]

Barclays are a mare to deal with full stop, only interested in selling their products and fee`s. HSBC are no better and I`m switching soon due to them backing China over the reforms for HK.

 

[Ben-gee]

I’ve done one with Barclays. I had to apply for a business account first which was s as bit of a pain - I’ve banked with them for nearly thirty years , but always used a separate personal account for all my business.

Apparently you are not required to have a business account for the loan , but they basically made it almost impossible.

However, once I had the business account I simply applied via my online banking and the money was there two days later.

You just say how much you want, I don’t think there are even any proper checks in your turnover, up to 25% of turnover.

If you have any other finance it’s really a no brainer to get this loan and pay others off.

If you don’t need it, fair enough I would not take a loan out for the sake of it - but these are great terms if you do need it.