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Anyone Got (BBLS)
 

Hi Just wondering anyone applied or got the (BBLS)

I am with natwest and Hsbc which one is good to go with..

Re: Anyone Got (BBLS)
 

One of my partners applied yesterday and got £40k+ with Metro yesterday.

Natwest and HSBC have been swarmed - especially HSBC.
TIDE has been overrun so don't even bother.

I'd say go with HSBC but be prepared to wait for eternity.

If you do not have a business bank account, then you should consider going with Starling or Clydesdale Bank.

By the way, ALL the banks seem not to care about your turnover as long as it is over 8k.
Therefore if your turnover is 8k but apply for 50k, you'd get it as long as you work it out on the application or make it reflect on your turnover, e.g.:
Desired loan amount = £50k / 0.25 (25%) = 200k (Turnover)

I guess the banks don't care as the government guarantees the loan - the more they let you take, the merrier for them down the road.

Folks should be aware they'd have to cough it all up in 6 years. It won't be funny down the road.

If you're looking to retain the bank account after obtaining the loan, then you should consider TSB or Yorkshire bank as they both have the lowest fees/charges currently.

Finally, if you're exempt from business rates, don't forget to ask your local council for your £10k grant. They say it's automatic, but ours made us jump through several hoops I felt like a circus animal.

Re: Anyone Got (BBLS)
 

Really appreciate the Information

I think i should be going with Natwest because one of my friend applied through HSBC and its been 3 weeks now

yes they dont care about the turnover as its Govt backed loan the problem is Natwest is my personal account and HSBC is the business account i am not sure it would be wise to apply from personal account they definitely will ask the HSBC statement which might delay the process more

Re: Anyone Got (BBLS)
 

Yes HSBC is really busy with applications at the moment.

However, they're still accepting applications for Business and Feeder accounts too. What a trange bank!



If your friend applied for a feeder, he'd be waiting a couple of months.

It has the longest queue for BBL in the UK.


NatWest will allow your application with your personal account if it is being used for your business AND you started trading before 6th of April 2019 AND you aren't running a company.
Otherwise you'd require a business account and they're not taking new applications.

Your best bet of getting it quickly is Starling, Yorkshire, Cyldesdale, and probably Metro if you you register your interest here

Avoid TSB for now. They'd open your business bank account but won't take any loan application.

Re: Anyone Got (BBLS)
 

Applied on my Barclays app, money was there in 24 hours.

Re: Anyone Got (BBLS)
 

be care full when applying for bbl, dont take more then 25% of turn over, if you cant pay it back there will hell to pay for lieing about any part of the applation

its self cert , so the liability lies with borrower not the bank, if the state forms are bullsh'''ted. if

Re: Anyone Got (BBLS)
 

I'm with Tide but they have been hopeless