Business loans, 100% government backed,

[d williams]

Lloyd’s on everything except the cottage which is NatWest, I thought there was a grant to other diversification’s other than the cottage? I’ve got 25+ years of accounts showing “x” amount has gone in every 4 months and now it’s not.

There was another grant available but has been suspended for the moment as applications were something like 300,000 in first couple day I’m guessing they are putting things in place to stop multiple applications for both but it is a guess

 

[Shropshire Farmer]

HSBC have paid out today. Application went in a week last Monday

 

[Still Farming]

HSBC have paid out today. Application went in a week last Monday

How long after signing forms?

 

[Shropshire Farmer]

How long after signing forms?

Forms came back a week today so 7 days from signing to payment

 

[Kidds]

Barclays put mine into my bank in 4 days.

 

[Overby]

A pal in the West of Scotland just told me he applied on Monday witn Clydesdale, money in his acount yesterday. Meanwhile, Yorkshire, owned by the same umbrella, appear to have taken to the mattresses. Very strange.

 

[Enry]

Forms came back a week today so 7 days from signing to payment

Santander applied Tues, forms Friday morning returned straight money there by 3pm Friday

 

[curlietailz]

is everyone on here claiming this?

No

 

[Blackleg]

Lloyds. I applied at 11.00pm with a few mouse clicks and money in account next day, they haven't emailed the agreement yet.

 

[BELOWAVERAGE]

How do you KNOW FFS those on here DON'T need it?

You missed my point, there will no doubt be plenty on here who need it, as in other industries, but what I was saying was, if those who weren't desperate had waited a while, then those who were desperate would have had a clearer run, I think its a no brainer for those with money, they can't lose, not so sure for those who aren't as flush (me included) as if things don't go to plan (low milk price etc) it will still need paying back. (As an aside, I occasionally come in late from milking see a post from NeilO which is ripe for criticism, and comment, he doesn't take the slightest bit of notice, but makes me feel better at the time.)

 

[DaveGrohl]

You missed my point, there will no doubt be plenty on here who need it, as in other industries, but what I was saying was, if those who weren't desperate had waited a while, then those who were desperate would have had a clearer run, I think its a no brainer for those with money, they can't lose, not so sure for those who aren't as flush (me included) as if things don't go to plan (low milk price etc) it will still need paying back. (As an aside, I occasionally come in late from milking see a post from NeilO which is ripe for criticism, and comment, he doesn't take the slightest bit of notice, but makes me feel better at the time.)

But why do you think delays are down to the "rush"? It seems that it's down to bad organisation in reality from one or two of the banks, and a willingness to block their own systems up unnecessarily. Also there are other GRANT schemes available for those truly in desperate need rather than this LOAN scheme, but then you seem to be avoiding this point in your rush to criticise others.

"They can't lose" has it not occurred to you that they already have (to whatever degree), and realise that money is still being lost and that this is a welcome aid?

 

[renewablejohn]

Santander applied Tues, forms Friday morning returned straight money there by 3pm Friday

Was that a business account. I am struggling with Santander as its a joint account. Applied a week last thursday and they have now gone quiet. Went into the branch and they where clueless as they had not be informed about it and stating it all had to be done online.

 

[livestock 1]

Barclays put mine into my bank in 4 days.

Did you do it through online banking?

 

[livestock 1]

If you are a director in 2 separate business can each business claim either bounce back loan or cbils loan? Or can you only have one as you have interests in both businesses?

That’s my question too

 

[Still Farming]

You missed my point, there will no doubt be plenty on here who need it, as in other industries, but what I was saying was, if those who weren't desperate had waited a while, then those who were desperate would have had a clearer run, I think its a no brainer for those with money, they can't lose, not so sure for those who aren't as flush (me included) as if things don't go to plan (low milk price etc) it will still need paying back. (As an aside, I occasionally come in late from milking see a post from NeilO which is ripe for criticism, and comment, he doesn't take the slightest bit of notice, but makes me feel better at the time.)

I haven't missed any point.
How do you propose to operate an online system to categorize desperate levels .
Like the benefits systems, OR SFP systems ,if you qualify you QUALIFY ?
How dare anyone think otherwise!

 

[Still Farming]

Forms came back a week today so 7 days from signing to payment

So you filling in online , then receipt, then asked for tax forms and accounts copy, then online email aggreement signed is it?
How long after signing that until loan in your bank please?
There is some worrying differences from bank to bank in the way these are or are NOT being operated?

 

[Shropshire Farmer]

So application was on the Monday the 4th, had the loan offer on the 8th and e signed and returned same day. The money came into the bank yesterday the 16th. Straight forward online application through HSBC portal. No accounts or tax returns asked for. Discussed with manager, he was very much of the opinion that the money is available to all to apply for and it’s been made available for all businesses that one need it to keep going but also to encourage spending and investment. The economy doesn’t work without a multiplier effect, basic economics.

 

[Still Farming]

So application was on the Monday the 4th, had the loan offer on the 8th and e signed and returned same day. The money came into the bank yesterday the 16th. Straight forward online application through HSBC portal. No accounts or tax returns asked for. Discussed with manager, he was very much of the opinion that the money is available to all to apply for and it’s been made available for all businesses that one need it to keep going but also to encourage spending and investment. The economy doesn’t work without a multiplier effect, basic economics.

That seems more reasonable than experienced here.
Even though STILL way off The Government's Demands and processes for these to be processed?

 

[Kidds]

Did you do it through online banking?

Yes

 

[SilliamWhale]

The other way of looking at it is that if you don't take it and your competitor does then he has a potential financial advantage over you