Originally posted by filthy1980
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£50K Interest Free Loan for 12 Months
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Originally posted by kempc23 View PostReceived a text message today from Cater Allen. You can now apply for a bounce-back loan via Santander, using your Cater Allen details.
I have applied this morning.Comment
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Originally posted by Jamy View PostSantander seem to have this down perfectly.
Application yesterday morning, docs signed in the afternoon and cash in the bank that evening!Comment
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Emailed forms came in from Santander on Thursday. Six days from application.
Duly signed and returned. Will inform when cash is in bank.Comment
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Martin Lewis has a survey open for people's feedback on the BBL:
MSE – Bounce Back Loan Scheme experiences surveyComment
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Seemed to be a bit longer than others' experiences direct to Santander, but all landed end in Cater yesterday. A week for forms, and a week after signing and submission.
Very efficient.Comment
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Originally posted by redman123 View Postwhat happens if your company closes down?
Loan is very clear: "Not a personal loan and no director's assets at risk"
So, on the surface, looks like its just another creditor. However, I guess if the Insolvency service start digging (if the shut down is not clean), then they may take a dim view of you taking the loan, paying a div and then pulling the plug.
That said, the loan is to assist businesses in surviving the CV19 downturn, so taking the loan and sitting it out for 12 months, taking a "fair" PAYE wage, not divs, before pulling the plug due to market conditions... would seem legitimate.
Why don't we wait and see how someone else gets on first?
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Originally posted by redman123 View Postwhat happens if your company closes down?Comment
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