Business loans, 100% government backed,

[Still Farming]

This

Was stated on the Martin Lewis site Santander would accept personal accounts.

Also on on BBLS webpages.

 

[JeepJeep]

Also on on BBLS webpages.

I may of missed it but has yours been sorted?

 

[Ciderman8961]

Just been told loan rejected from Santander as not a business bank account yet on the website it does not restrict to only business accounts. Just wondering what to do now.

Can you not open a business account with them?
That's all I had to do with natwest was running my business through personal account so just had to open a business account, applied for loan once new account was open and all went through within 48hrs from application

 

[yin ewe]

I may of missed it but has yours been sorted?

YES!!!!!!!!!!!!

 

[JeepJeep]

YES!!!!!!!!!!!!

Hallelujah.......

 

[Renaultman]

Just been told loan rejected from Santander as not a business bank account yet on the website it does not restrict to only business accounts. Just wondering what to do now.

You could try the Starling bank route, I actually got as far as to open a personal account, in case I had to go down that route. Apparently personal account one day business the next then you apply for BB loan. Must say the personal account application was very straight forward and I am currently looking in to the pros and cons of a full online business account as a future option.

 

[Still Farming]

I may of missed it but has yours been sorted?

16 days later yes thanks.

 

[Cowabunga]

Just been told loan rejected from Santander as not a business bank account yet on the website it does not restrict to only business accounts. Just wondering what to do now.

Get a business account or arrange a personal loan or forget it?

 

[Cows 'n grass]

I applied at 9 pm on Monday night and it was in the account this morning, less than 36hrs later. That was through Lloyds.

 

[JGL]

Applied 3 weeks ago with NatWest and still no money yet. They say they are having problems because we are a partnership. Has anyone else had this problem or has anyone with a partnership been paid?

 

[som farmer]

Applied 3 weeks ago with NatWest and still no money yet. They say they are having problems because we are a partnership. Has anyone else had this problem or has anyone with a partnership been paid?

yes, when applying on line to Lloyds, it wouldn't accept the partnership name, so applied as 1 name, straight through, acknowledgement in partnership name, money followed over the weekend.

 

[Full of bull(s)]

Ive often wished it would work like that,and used to plonker my ears up at any mention of cheaper interest rates or negative ones.It doesnt work like that for us plebs though.I think any talk of negative rates are just for huge jobs,like sovereign debt and such like.Happy to be corrected though.Im still waiting for the launch of the Carlsberg Bank("heres a huge pile of cash for your business at 0.1% interest,and just pay it back whenever you can")

I agree the idea of farmers loans/overdrafts being at zero or negative interest rates is a pipe dream. If banks worked like they did 200 years ago, by using deposited money held on their own reserves to lend, simply taking a margin between the savers rate and the borrowers it would be feasible but those days are long gone, as generally nobody has any money and everyone wants to borrow. If at overdraft renewal time the rate you pay stays the same consider yourself lucky, as the banks are going to increase their margins over base to cover costs. The more worrying question I feel is where is all this money the banks/governments are borrowing coming from if nobody has any? The money trail leads back to the same place the virus does in my opinion, but which will end up being the most dangerous?

 

[Cowabunga]

Applied 3 weeks ago with NatWest and still no money yet. They say they are having problems because we are a partnership. Has anyone else had this problem or has anyone with a partnership been paid?

I had a problem a few weeks ago and gave up over silage time. I think it was because my name isn't the same as the partnership name, which is also the name of the account.
Ended silage and by that time the on-line application had been altered and this was no longer an issue. Also, the first time I used my second name, which I am known by, but for the re-application I used my first name. I also decided to photograph my signature rather than try and sign by finger. All done using the iPad. No problem the second time.

 

[Cowabunga]

I agree the idea of farmers loans/overdrafts being at zero or negative interest rates is a pipe dream. If banks worked like they did 200 years ago, by using deposited money held on their own reserves to lend, simply taking a margin between the savers rate and the borrowers it would be feasible but those days are long gone, as generally nobody has any money and everyone wants to borrow. If at overdraft renewal time the rate you pay stays the same consider yourself lucky, as the banks are going to increase their margins over base to cover costs. The more worrying question I feel is where is all this money the banks/governments are borrowing coming from if nobody has any? The money trail leads back to the same place the virus does in my opinion, but which will end up being the most dangerous?

Lending money actually creates money from nothing. How this works is beyond my full understanding so you will need to research it for yourself.

 

[Derrick Hughes]

I had a problem a few weeks ago and gave up over silage time. I think it was because my name isn't the same as the partnership name, which is also the name of the account.
Ended silage and by that time the on-line application had been altered and this was no longer an issue. Also, the first time I used my second name, which I am known by, but for the re-application I used my first name. I also decided to photograph my signature rather than try and sign by finger. All done using the iPad. No problem the second time.

@Cowabunga ,is it true you packing in milk production? mind your own business wont offend

 

[Suffolk Serf]

Applied 3 weeks ago with NatWest and still no money yet. They say they are having problems because we are a partnership. Has anyone else had this problem or has anyone with a partnership been paid?

My Natwest manager phoned yesterday for a chat, my money hasn't come after applying at the beginning of the scheme. He advised having another go, which I have done. The system was rather swamped at the beginning.

 

[som farmer]

Lending money actually creates money from nothing. How this works is beyond my full understanding so you will need to research it for yourself.

its mean't to confusing to every body 'not in the money' racket, they can then explain it to anyone, to their advantage,
I see, EU wouldn't have any objection to a 2 yr extension, and are prepared to give ground on fishing rights, I presume it's nothing to do with Poland, throwing their toys, out of the pram, at the thought they might actually pay IN to the relief fund, for the basket case economies, in the EU, this virus, will shake the EU to the very core, coupled with the refugee crisis, the euro, not suiting all countries equally, the closing of borders, and us leaving, it could signal the end, certainly of further central policy. If it reverted to a simple trading bloc, no doubt we wouldn't be so keen to leave.
As it stands at the moment, an extension would mean, us paying into the 'relief' fund, to 'help' the struggling economies, my opinion, we have already borrowed way to much, why increase that borrowing to help those countries that cannot cope, even before c19 ?

 

[JeepJeep]

Did all mine on my phone over breakfast... Santander. No dramas. Signed it on my phone with a Cider in the other hand. No dramas. 3ish days start to finish.

 

[Cowabunga]

@Cowabunga ,is it true you packing in milk production? mind your own business wont offend

I'm certainly packing it in within the next three years. The big question is, when exactly? I can't answer that, because I don't know. However, my imminent exit may be exaggerated. After getting 12p/litre for April milk, there is little incentive to carry on while seeing my capital erode before my eyes, so it is a possibility that it could be soon. No more than a possibility.
I have nobody to take over the business, so non-essential investment in it stopped some while ago in anticipation of retiring before my 65th birthday. This was somewhat flexible but the current situation has certainly brought it closer.

 

[lazy farmer]

I agree the idea of farmers loans/overdrafts being at zero or negative interest rates is a pipe dream. If banks worked like they did 200 years ago, by using deposited money held on their own reserves to lend, simply taking a margin between the savers rate and the borrowers it would be feasible but those days are long gone, as generally nobody has any money and everyone wants to borrow. If at overdraft renewal time the rate you pay stays the same consider yourself lucky, as the banks are going to increase their margins over base to cover costs. The more worrying question I feel is where is all this money the banks/governments are borrowing coming from if nobody has any? The money trail leads back to the same place the virus does in my opinion, but which will end up being the most dangerous?

The government borrowed 10 yr money last week at minus interest rates