| answer text |
<p>The Bounce Back Loan Scheme (BBLS) has been introduced to help small and medium-sized
businesses to borrow between £2,000 and £50,000. Businesses are not required to bank
with their provider in order to be eligible for a loan under the Bounce Back Loans
Scheme (BBLS).</p><p> </p><p>It is also not a requirement of the Scheme for businesses
to operate via a business account. However, some lenders may request that an applicant
opens a business account in line with their standard policies. This is at the sole
discretion of the lender. There are now 14 lenders accredited under the scheme, providing
more choice for SMEs. Details of accredited lenders can be found on the British Business
Bank’s website.</p><p> </p><p>In order to apply for the scheme, businesses need to
complete a short, simple online application form. A lender may consider paying funds
into a personal current account if no business bank account is held, if it has been
satisfactorily evidenced that the personal current account is being used for business
purposes. In some cases, borrowers may need to include their 2018-19 HMRC self-assessment
tax return alongside the form to verify their status as a business.</p>
|
|
