Re: Anyone Got (BBLS) Quote:
Originally Posted by USB Hi Just wondering anyone applied or got the (BBLS)
I am with natwest and Hsbc which one is good to go with.. |
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.
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