Business loans, 100% government backed,

[Still Farming]

Did you have to give a reason for taking it?

Just tick boxes that apply to you.

 

[Johnnyboxer]

Usually with standard Hire Purchase loans if you repay early you still have to repay the remaining interest that you would have had to pay for the remainder of the duration... so almost no benefit to repaying early?

No. you don't

 

[Johnnyboxer]

It says 100% backed by goverment yet HSBC email says they will recover 100% of debt etc if not repaid.So is the goverment backing it,or the banks still having assets to cover loan.Cant even get on to lloyds site

I looked on the HSBC portal, this morning
If you or your company defaults, they will recover the debt from the borrower first............if they find no cash to cover the debt by way of assets or cash, then they will ask HMG to cover the debt, by way of the HMG 100% guarantee

 

[caveman]

Just tick boxes that apply to you.

Tick them all....... Just in case.??

 

[caveman]

Is there a limit to how much is available?

25% of turnover 2019 up to a max of £50k

 

[neilo]

25% of turnover 2019 up to a max of £50k

I meant nationally. Or has the Chancellor planted another magic money tree?

 

[Werzle]

Should we all be borrowing this money with an eye on paying it back in 13mths ? Could turn a quick profit with some free money perhaps? I wonder how the banks will view us if we do

 

[Cowabunga]

Should we all be borrowing this money with an eye on paying it back in 13mths ? Could turn a quick profit with some free money perhaps? I wonder how the banks will view us if we do

How much money do you think you will make on the loan over 12 months? Is it morally right that someone who doesn't need it takes the money from a finite pot where some that really do need it are declined because the pot has been emptied?

 

[Cowabunga]

I meant nationally. Or has the Chancellor planted another magic money tree?

I suspect there is a limit to the size of the pot.

 

[Werzle]

How much money do you think you will make on the loan over 12 months? Is it morally right that someone who doesn't need it takes the money from a finite pot where some that really do need it are declined because the pot has been emptied?

Trouble is where has doing whats morally right all the time got us? Buy a dose of incalf cows , calf them down and cash them again . I could turn 10k into 14-16k in 2-3mths or 20k into 28-32k and so on. Need abit of luck thrown in.

 

[Cowabunga]

Trouble is where has doing whats morally right all the time got us?

Not far, I'll give you that.

 

[Highland Mule]

Trouble is where has doing whats morally right all the time got us? Buy a dose of incalf cows , calf them down and cash them again . I could turn 10k into 14-16k in 2-3mths or 20k into 28-32k and so on. Need abit of luck thrown in.

You can manage a 40% uplift per quarter, straight profit? Think you maybe borrowed a calculator from that Turkish bloke?

 

[Flat 10]

How much money do you think you will make on the loan over 12 months? Is it morally right that someone who doesn't need it takes the money from a finite pot where some that really do need it are declined because the pot has been emptied?

Problem is we will all (taxpayers) be paying for the ones that go bust so we might as well benefit. Feels wrong though as you say.

 

[Greythundercloudys]

There will never be anything like these loans again, just as well get some cheap money when everyone else is.

 

[jackrussell101]

Are there any terms and conditions as to what you can spend the money on?

 

[Werzle]

You can manage a 40% uplift per quarter, straight profit? Think you maybe borrowed a calculator from that Turkish bloke?

Left over straw and silage always seems like free fodder to me and the sheds are empty now the cows are out. Saw a bunch of recently tbt springing to calf simms for sale lately, calve them and re sell before the pre movement test runs out.

 

[Werzle]

Are there any terms and conditions as to what you can spend the money on?

Dont buy anything shiny with it ffs, it has to be paid back!

 

[Still Farming]

They say in your account within 24hrs?
Anyone got clock ticking?
You be waiting for ever for HMRC if they don't get their scheme operational soon also?

 

[jackrussell101]

Dont buy anything shiny with it ffs, it has to be paid back!

I've always wanted a Fendt now I could buy it, run it for 12 months, then foook it off down the road

 

[Flower Power]

I've always wanted a Fendt now I could buy it, run it for 12 months, then foook it off down the road

But you need to explain in your application why your business has been adversely effected by Covid-19.