glasshouse
Member
- Location
- lothians
Is there a new one out?
Covid loans
- Thread starter glasshouse
- Start date
Cowabunga
Member
- Location
- Ceredigion,Wales
Have the old schemes ended?
glasshouse
Member
- Location
- lothians
Dunno
Cowabunga
Member
- Location
- Ceredigion,Wales
Grants and loans are totally different.
I should really read the title closer!
Campbell
Member
- Location
- Herefordshire
The second phase of the self employed Grant scheme, began on the 17th. Based on averaging your accounting profits.
TripleSix
Member
- Location
- Helmsley, North Yorkshire
There is another grant for self employed people just out
glasshouse
Member
- Location
- lothians
What about thebusiness interruption scheme?
Cowabunga
Member
- Location
- Ceredigion,Wales
Yes the second tranche of the self-employed grant is available to claim from 21st August to 19th October 2020. It is based on 70% of the monthly profit for three months, averaged over 12 months for the year before last [I think]. Maximum payment is just over £6500.
It is taxable of course.
It is taxable of course.
icanshootwell
Member
- Location
- Ross-on-wye
These were the grants offered by the council for mainly business,s that slipped through the net. If you are limited co for example.
- Location
- South Wales UK
Possibly the grants talked about are for businesses that were new start up's and that didn't qualify for other assistance.
the 'LOANS' are not free money.
They will have to be paid back, and one i looked at is a 5 year job, with the first year payment free.
That means you pay everything in the other 4 years, and it's going out to a lot of folk who haven't looked at what that will mean.
Stand by for tears before bed time on a large scale.
They will have to be paid back, and one i looked at is a 5 year job, with the first year payment free.
That means you pay everything in the other 4 years, and it's going out to a lot of folk who haven't looked at what that will mean.
Stand by for tears before bed time on a large scale.
And there are a lot of people who do understand what a loan is and took one out. No tears.
- Location
- Montgomeryshire
That’s the Bounce Back Loan, which is the subject of a long thread here already. Yes, it has to be paid back, but the interest rate is 2.5%, which is very cheap short term finance. If you paid it back in full after 12 months, it is essentially free money for a year. If you pay off existing finance with it, you can reduce the cost of that significantly.
If you pee it up the wall, you might struggle to pay it back of course.
icanshootwell
Member
- Location
- Ross-on-wye
It was still cheap finance, cheaper than an overdraft, in my case anyway. I,m sure some have miss spent it like kids in a sweet shop, maybe that,s why breeding ewes are a silly price.
- Location
- Lincolnshire
I suspect a fair few have no intention of paying it back and put it into a ltd company and have already stripped it out to another one.
Yup fellas.
You lot- and I -are all clued up, and understand the deal.
(it's only a love of the smell of cow poop and sheeps feet, or a fondness for using diesel and grease as skin cream, which stops us from retiring to St Tropez )
I fully intend to utilise one for a specific job in a minute should the need arise.
However, someone within the workings of my bank lately told me how many hundreds of thousands of such loans his firm alone has been green lighted to hand out....and being in the trade, they can see very well how a large % of the recipients do not know how to manage such affairs and at the very least will be wanting a time extension before 5 years is up.
This will immediately then be outside of the treasury guarantee.....and it is at that point that the tears are likely to flow.
why would you want a loan i'm pretty sure a dose is free
glasshouse
Member
- Location
- lothians
Has nobody ever had a loan before?