Top up bounce back loan rules

[nelly55]

If you only claimed a very small amount,then decided to top up.Is it added to first loan or a separate loan.According to information from my bank it’s added to first loan,meaning the topup part is only interest free for 6 months not 12 and payment due in 6 months not 12.

 

[Mc115reed]

If you only claimed a very small amount,then decided to top up.Is it added to first loan or a separate loan.According to information from my bank it’s added to first loan,meaning the topup part is only interest free for 6 months not 12 and payment due in 6 months not 12.

That is correct it starts from the date of the first Loan

 

[Greythundercloudys]

So how much extra can you claim for,?

 

[ridger]

So how much extra can you claim for,?

Up to 25% annual turnover in total

 

[Gedd]

Up to 25% annual turnover in total

Or maximum of £50000

 

[Greythundercloudys]

So what if you claimed 15 grand in the summer, can you apply for the same again.

 

[caveman]

So what if you claimed 15 grand in the summer, can you apply for the same again.

I'm thinking, if your turnover last year was over £120k, then. Yes.
But.
As it's government guaranteed, but your turnover wasn't that much, plus your record with the bank is good, they may well stump up anyways?