Business loans, 100% government backed,

[Cowabunga]

So how do you do this e sign thing?

The tidiest way by far is to write your signature on a plain piece of paper and photograph it using your device or upload it to the device, then choose that photograph using the option given in the e-sign app thing on the form.
Obviously scribbling it requires a touch screen, which is what I actually used but couldn't do it tidily on my iPad using a finger, so went the photo route instead for a genuine representation of my normal signature.

 

[Cowabunga]

NatWest- started Friday in account Tuesday- couldn’t fault it.

The NatWest form has changed significantly for the better since I first tried it, before going on the silage about 10 days ago. Had no problem with the later version. The first version didn't like that my name was different to the account name for instance, asking for my name exactly as it was on the cheque book, when my name is not on the CB and I sign that with the partnership name. Anyhow, I was obviously not the only one to have an issue with that and they sorted it without my input.

 

[som farmer]

I've no real idea of how they work in reality, but this could all get interesting if they decide to implement negative interest rates, which seems a distinct possibility given what the BoE are now saying.

Presumably the ability of businesses to borrow at even lower/negative rates would be available (subject to significantly more due diligence I assume however)? Where you still make repayments obvs, but end up paying back less than you borrow.

Would those borrowing in BBL scheme, end up paying the 2.5% interest and a charge on any surplus cash sitting in their account unspent? Or are general businesses excluded from paying to hold cash?

Makes this BBL scheme appear even more attractive to banks, lending OUT billions of government backed cash @ 2% - 2.5% return, where under negative interest rates they will end up having to actually PAY interest on any surplus reserves?

Genuinely interested, and happy to be educated by those with a better understanding....any Japanese farmers in the thread??

had thought about inflation, in 'down sizing' debt, assuming guv policy would want some increase, to reduce its debt, hadn't thought of negative interest rates, intriguing to say the least, but it would hit the savers hard, and would guv risk alienating them ? Quite a nice thought, being paid to borrow, but, alas, that would be a dream to far.

 

[neilo]

So how do you do this e sign thing?

On the HSBC one, you could scribble your signature on a bit of paper and upload a photo of it from your phone, which it arranged in the box for me.

 

[neilo]

I've no real idea of how they work in reality, but this could all get interesting if they decide to implement negative interest rates, which seems a distinct possibility given what the BoE are now saying.

Presumably the ability of businesses to borrow at even lower/negative rates would be available (subject to significantly more due diligence I assume however)? Where you still make repayments obvs, but end up paying back less than you borrow.

Would those borrowing in BBL scheme, end up paying the 2.5% interest and a charge on any surplus cash sitting in their account unspent? Or are general businesses excluded from paying to hold cash?

Makes this BBL scheme appear even more attractive to banks, lending OUT billions of government backed cash @ 2% - 2.5% return, where under negative interest rates they will end up having to actually PAY interest on any surplus reserves?

Genuinely interested, and happy to be educated by those with a better understanding....any Japanese farmers in the thread??

If it happens that you could borrow funds at significantly less than the 2.5% BBL loan rate, you can pay the loan off early without penalty, using that new borrowing if you wish.

 

[som farmer]

I definitely like this line of thought, with some very large borrowing looming in the not to distant future...…...

 

[Doddsy]

Is that part of the agreement, no penalties at all for early repayment? Cheers

 

[yin ewe]

Is that part of the agreement, no penalties at all for early repayment? Cheers

Yes I think you can pay it off early without penalty and no payment for the first 12 months.

 

[d williams]

Not to that some people on here should be running a business when they can’t even understand a very simple agreement and why’s expected of two parties entering into a agreement

 

[Still Farming]

Not to that some people on here should be running a business when they can’t even understand a very simple agreement and why’s expected of two parties entering into a agreement

Or the way banks are allegedly handling and processing them , to the way the Government stated they should be?

 

[d williams]

Or the way banks are allegedly handling and processing them , to the way the Government stated they should be?

Reading some of the quotes on here is it the banks or incompetent applications
There doesn’t seem to be anyone bank failing?? Couldn’t fault Barclays

 

[Doddsy]

Yes I think you can pay it off early without penalty and no payment for the first 12 months.

To be fair, being able to pay off the entire balance at any point, without penalty, is a pretty significant plus.

 

[Still Farming]

Reading some of the quotes on here is it the banks or incompetent applications
There doesn’t seem to be anyone bank failing?? Couldn’t fault Barclays

Could be with some ?
Done by the book here?

 

[Doddsy]

Could be with some ?
Done by the book here?

You sure you didn't hit the CAPS LOCK when when you filled it out, computer maybe got confused!?!

Banta..... ?

 

[jendan]

I've no real idea of how they work in reality, but this could all get interesting if they decide to implement negative interest rates, which seems a distinct possibility given what the BoE are now saying.

Presumably the ability of businesses to borrow at even lower/negative rates would be available (subject to significantly more due diligence I assume however)? Where you still make repayments obvs, but end up paying back less than you borrow.

Would those borrowing in BBL scheme, end up paying the 2.5% interest and a charge on any surplus cash sitting in their account unspent? Or are general businesses excluded from paying to hold cash?

Makes this BBL scheme appear even more attractive to banks, lending OUT billions of government backed cash @ 2% - 2.5% return, where under negative interest rates they will end up having to actually PAY interest on any surplus reserves?

Genuinely interested, and happy to be educated by those with a better understanding....any Japanese farmers in the thread??

Ive often wished it would work like that,and used to pr*ck 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")

 

[Doddsy]

Wel

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")

Well, looks a fair chance we'll get to see how it works in practice at some point.

 

[e3120]

You sure you didn't hit the CAPS LOCK when when you filled it out, computer maybe got confused!?!

Banta..... ?

Probably included a surplus of ??? with the application.

 

[renewablejohn]

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.

 

[Still Farming]

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.

FSA And Financial Onbuddsman asap.
Lots of issues "across the board", allegedly.

 

[JeepJeep]

FSA And Financial Onbuddsman asap.
Lots of issues "across the board", allegedly.

This

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