Business loans, 100% government backed,

[yellow belly]

the op is about the loans
aplied Friday ( bank holiday )
email on Sunday saying the agreement will come soon from a non hsbc email account so look out for it
got it this morning digitally signed it and sent it back waiting for the money
hsbc not bad one an a half workingdays to signed agreement

 

[johnspeehs]

Ulster bank were very slow but I was talking to my "relationship manager " today and he said the problem was they didn't have a system to offer fixed rate loans to business customers and had to build one from scratch, up to full speed now he says.

 

[neilo]

the op is about the loans
aplied Friday ( bank holiday )
email on Sunday saying the agreement will come soon from a non hsbc email account so look out for it
got it this morning digitally signed it and sent it back waiting for the money
hsbc not bad one an a half workingdays to signed agreement

They were apparently very slow (compared to other banks) when it started, and the BofE was supposed to ‘discussing’ the issue with them.

Perhaps their arses were kicked hard enough to stir some action?

 

[n.w]

if they continue to trade, as you say, using the loan, to pay staff, or safe guard their jobs, isn't that money circulating ? Circulation of money, is trade, we buy, we sell. If used to finance, development, or expansion of a viable business, the money will circulate, if the business expands, the bigger the circulation. Which is exactly the guvs intention. Somewhere your thinking seems muddled. As for repayment, its governed under the gen finance rules, fixed interest, fixed repayments, they can't alter that.

Agreed...The loan I received is going towards expansion and investment..not to tied me over, while i sit on my arse

 

[Renaultman]

Over a Week here with HSBC and counting ???FFS
What Government dept.handles these complaints?

Same here with Yorkshire, had 3 generic texts now.

 

[Still Farming]

Same here with Yorkshire, had 3 generic texts now.

Saying?

 

[ploughman1963]

It is wrong. I've just done my agreement (with HSBC) and there is a clause in there that states that the money has to be spent on the business and not personal, and also that it cannot be spent on new capital items (like those new sheds that people have mentioned on here), only on replacements. When you sign you are legally agreeing to that undertaking, so anyone putting it into stocks & shares is committing fraud.

Whether he will ever be caught is a different matter of course.

If I put my BBL into my account and it wipes out my o/d - if I buy shares - who is to say whether I bought them with my o/d or my BBL?

 

[Renaultman]

Saying?

'We are currently seeing a high demand from our customers requiring support in these difficult times. We want to assure you that our teams are working through your Bounce Back Loan enquiry as fast as we can and we will be in touch as soon as possible. If you've already heard from us then please ignore this text'

 

[Still Farming]

'We are currently seeing a high demand from our customers requiring support in these difficult times. We want to assure you that our teams are working through your Bounce Back Loan enquiry as fast as we can and we will be in touch as soon as possible. If you've already heard from us then please ignore this text'

Looks like as all or most staff furlonged they are struggling.
BUT if The Government orders to distribute then they liable as at fault?

 

[Renaultman]

Looks like as all or most staff furlonged they are struggling.
BUT if The Government orders to distribute then they liable as at fault?

I am probably going to contact them tomorrow as by then it will have been well over a week.

 

[ARW]

I am probably going to contact them tomorrow as by then it will have been well over a week.

Yorkshire bank are always behind everyone else!

 

[Drillman]

Yorkshire bank are always behind everyone else!

I had an account with Yorkshire bank once. Decided to close it and had to see the manager. He had the most wet lettuce handshake I’ve ever come across. On that basis alone I wouldn’t ever use them again!

 

[Still Farming]

Quick look on the net and plenty of issues arising on the Money Saving Expert and The Financial Onbudsman service allegedly?

 

[Ciderman8961]

So the system fails again and many sole traders suffer because of it !.

No I run my business through my personal account, natwest customers doing this need to open a business feeder account as first part of the loan application

 

[neilo]

If I put my BBL into my account and it wipes out my o/d - if I buy shares - who is to say whether I bought them with my o/d or my BBL?

None of the requirements could actually be enforced I suspect, but by putting that clause in the contract they have likely fulfilled their obligation to HMG.
As long as you don’t default on payments they’ll all be happy, as with any finance agreement.

 

[Johnnyboxer]

Quick look on the net and plenty of issues arising on the Money Saving Expert and The Financial Onbudsman service allegedly?

What like?

 

[Hooby Farmer]

Ulster bank were very slow but I was talking to my "relationship manager " today and he said the problem was they didn't have a system to offer fixed rate loans to business customers and had to build one from scratch, up to full speed now he says.

Filled in the first part of the form on monday, then they send an email form for the rest. Have not received any correspondence from them yet.

 

[renewablejohn]

Santander messing me about. Applied last Thursday but my account is joint account not business account. Told should not be a problem as Santander is one of the few banks that dont insist on having a business account. Advised due to bank holiday nothing would be done until Monday which was fair enough. On Monday Santander requested my wifes self assessment return, proof of business and proof of business address. Obviously responded it has nothing to do with the wife as its my business that the application was made. Gone very quiet since.

 

[Still Farming]

What like?

Delays etc???

 

[Wombat]

Delays etc???

Calm down, they will get them to everyone eventually