You should read and consider these documents before proceeding with your application. Bounce Back Loan Scheme Data Protection Declaration Please note that if you would like to apply for a Bounce Back Loan, it is a requirement of the Bounce Back Loan Scheme that you agree to this Data Protection Declaration. The Government will be covering interest payments for the first 12 months. Everything you need to know before you apply. To be eligible for a top up, your business must have a Santander or Cater Allen account that is open. BBLS Loans are not subject to the usual consumer protections that apply to business lending and as such you will not have the benefit of the protection and remedies that would otherwise be available to you under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. It’s important that you read and understand the information in the Bounce Back Loans Key Facts Document and Bounce Back Loan Scheme Data Protection Statement. Lending guide and appeal process. Partnership Capital Subscription Loan. If your business hasn’t been trading long enough to be able to provide a 2018/19 tax return, we can accept other documents such as: For applications using a Santander personal current account we’ll also need additional information from you as part of the application process, this may mean that it takes longer than normal to process your application. Before this bounce back loan I applied for an overdraft with Santander for my business under covid scheme on Monday I applied for the bounce back they sent me docs same day I signed them. November 13, 2020 Bounce Back Loan News Archive, Daily Update. You may wish to keep a copy of the Business in Difficulty Guidance Questionnaire to hand if you want to check if your business is in difficulty. The funding has allowed the business, which employs one full-time member of staff and ten casual employees, to continue with its planned growth trajectory. A website website was launched in May … How do I know whether I’ve already taken out the maximum BBL amount available to me? Our Financial Services Register number is 106054. No, once you’ve opened a BBLS Top-up, you’ll be required to make your repayments at the same time as your Original BBL repayments are due, via a single monthly Direct Debit. If you require a business loan over £50,000, please visit Corporate and Commercial Banking. Have not borrowed the full amount available (either £50,000 or 25% of the annual turnover that you provided in the original application, whichever is lower). You’ll need to provide us a copy of your full 2018/19 self assessment tax return. If you default under the BBLS Loan, give you a reasonable period to remedy any breach and will not treat the same as an event of default if it is remedied by you within this period. How can I make sure I apply for the maximum top up available to me? You should read and consider these documents before proceeding with your application. For most customers we’ll send you an email (usually within 24hrs) containing documents you need to sign and return to us digitally. If you have any questions regarding these or require further information, please contact us. What happens if I apply for a higher top up amount than I’m eligible for? If you’re transferring a CBILS overdraft to a Bounce Back Loan. The BBLS is a government backed guarantee scheme, which may allow you to borrow money in these circumstances. It's money that you borrow from us. (added 03 June 2020) (added 03 June 2020) Businesses are entitled to one Bounce Back Loan Scheme facility per separate business unless the business is a group which has a holding company at the top of their structure. Santander UK plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Applications from customers who opened their personal current account after 1 March 2020, or who run their business transactions through an account with another provider won’t be accepted. Registered Offices: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. You can only apply for one Bounce Back Loan per group. Please ensure that you check your junk or spam folders. If your business hasn’t been trading long enough to be able to provide a tax return we can accept alternative documents such as a third party invoice which has been paid from your account within the last 60 days, addressed to you and your business or regulatory licence. The loan is supposed to be astoundingly easy to apply for, utilising an online application form with only seven questions on it. A statutory sick pay relief package for small businesses. @Brown1988Danny @Bounce_BackLoan be interesting to see how many people are having issues with Santander. Be the same type of entity as it was when your Bounce Back Loan was first taken out and your business has not changed how you trade. The BBLS is designed to help you in circumstances where you wouldn’t She wants the maximum £50,000 Bounce Back Loan as well. I’ve been with Santander since it was Abbey. Josh’s Chocolate launched in August 2019, producing premium quality chocolate, close to the coast in Cornwall. The BBLS is designed to help you in circumstances where you wouldn’t normally meet our eligibility criteria. If your business has already opened a Bounce Back Loan with us, and you didn’t borrow the full amount available, you may be eligible to apply for a Bounce Back Loan Scheme (BBLS) Top-up. HR, employment and health and safety solutions, Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme, Business in Difficulty Guidance Questionnaire, Bounce Back Loan Scheme (BBLS) Key Facts Document, Bounce Back Loan Scheme Data Protection Statement, HR, Employment and Health and Safety Solutions, Total amount repayable over the term of the loan, Straightforward application and quick access to funds, Loan amount from £2,000 up to £50,000 or 25% of your annual turnover, whichever is lower, Government covers the first 12 months of interest (this means you pay 0% for the first year), No repayments required for the first 12 months, Interest rate of 2.5% p.a. The brand celebrates the simple life pleasures enjoyed by … Our extensive local networks and knowledge around the world means we’re ideally placed to support your international trade plans. Information on options available to you for help and assistance, including sources of free independent advice. Please read our dedicated Bounce Back Loan Top-up Frequently Asked Questions below before applying for a top up. Still waiting. Sweeping and pooling. Your top up request must not take your total BBL to greater of 25% of your turnover, as stated in your original application, or the cap of £50,000. If you miss a BBLS Loan payment we will record the details with a credit reference agency which could damage your credit rating and may make it more difficult for you to obtain credit in the future. Someone who is working out of our site today had problems all morning but there loan top up just slipped through. Pay due regard to your information needs and provide information in a way which is clear, fair and not misleading. If you already have a CBILS loan with us you will need to repay your existing CBILS loan in full by taking this BBLS loan. But, like any loan, if it is rejected due to an incorrectly answered question, trying to apply for it a second time will be nearly impossible. We’re working hard to do all we can to help our existing business customers who are in urgent need of support under the Bounce Back Loan Scheme. What other forms of government support are available for businesses? Full details will be provided as part of the application process. We will only offer the maximum amount your business is eligible for under the BBLS scheme rules and will confirm this figure to you in the loan agreement. Full details will be provided as part of the application process. Take a look at our ‘Top up my existing Bounce Bank Loan’ section for more information. What is the Bounce Back Loan Scheme? Trade finance. Can I apply for a Bounce Back Loan if I am a Cater Allen business customer? You can only apply for one Bounce Back Loan per group. A statutory sick pay relief package for small businesses. Your business must: If your business has already made a partial repayment of your BBL the total amount of the BBLS Top-up and original loan can’t exceed the maximum of £50,000 or 25% of the annual turnover that you provided in your original application, whichever is lower). Can I apply for a Bounce Back Loan if I hold a Santander personal current account and not a business current account? Santander UK plc. You will always remain responsible for repayment of the whole (ie.100%) of the debt. Telephone 0800 389 7000. Take a look at the ‘Other account information’ section to learn more. The Bounce Back Loans Scheme enables businesses to obtain a six-year term loan at a government set interest rate of 2.5% a year. Can I request a top up or increase my Bounce Back Loan amount? So please check back daily for even more of them going live. Top ups for existing Bounce Back Loan (BBL) borrowers: If your business has already opened a Bounce Back Loan with us and didn’t borrow the full amount available (either £50,000 or 25% of the annual turnover  as stated in the original application, whichever is lower), your business may be eligible to top up its existing Bounce Back Loan. If your business has already opened a Bounce Back Loan with us and didn’t borrow the full amount available (either £50,000 or 25% of the annual turnover as stated in the original application, whichever is lower), your business may be eligible to top up its existing Bounce Back Loan. Please take this into consideration when choosing the amount of Bounce Back Loan to apply for. Santander Corporate & Commercial is a brand name of Santander UK plc (which also uses the brand name Santander Corporate & Investment Banking). Almost all business sectors are eligible for BBLS. We’ll have to assess the application in our usual way, doing a credit check and taking into account the current and expected performance of your business. The BBLS is designed to help you in circumstances where you wouldn’t Here you’ll find a range of options suited to short and long-term needs. Everything you need to know before you apply. The amount of the money that you borrow, the interest rate and the repayment time period are all fixed. I have a number of businesses; under the Bounce Back Loan Scheme, can I apply for a loan for each business? Telephone 0800 389 7000. Information on options available to you for help and assistance, including sources of free independent advice. A 12-month business rates holiday for all retail, hospitality and leisure businesses in England. Have not already applied for a BBLS Top-up. Take a look at our information on how to complain, including details of our complaints handling procedure and your right to complain to the Financial Ombudsman Service. If you have any current or savings accounts with us, we may move funds from those accounts to settle any outstanding payments on your BBLS Loan. Have an existing Bounce Back Loan open with Santander. Please note the maximum loan size available under BBLS is £50,000. Our Financial Services Register number is 106054. We recommend reading the information in the document below before you apply. Bounce Back Loan. Have a Santander Business, Personal or Cater Allen account that is open. How will the BBLS scheme affect my existing loan? These applications will take longer to process. Finance. A single Direct Debit will be taken after 12 months to collect total payments due. Please contact us if you are having difficulties in making your repayments. Take a look at our ‘Top up my existing Bounce Back Loan’ section for more information. Under the current guidance from the British Business Bank, “A customer may apply for one loan for each separate business, unless the businesses are a group as defined by having a holding company.” Please refer to our Business Group Guidance Sheet (35 KB) for more information. When you submit your request for a  BBLS Top-up, we will make some realtime background checks to confirm the value of the original loan you received against the total BBL available to you. All lending is subject to status, availability, our lending criteria and the BBLS eligibility criteria. When you opened your overdraft under CBILS, any existing standard overdraft you had on your business banking account with us was incorporated into the CBILS overdraft. Be aware I have literally 1000’s of articles to load about BBL’s. Important information is included within documents which can be accessed via the links below. Registered Numbers 2294747 and 1533123 respectively. As part of the BBLS Top-up, the Government is offering a Business Interruption Payment which will cover your interest payments up until the expiry of the interest-free period on your original Bounce Back Loan (that is,12 months from the initial draw-down date of your original Bounce Back Loan). Can I apply for a BBLS Top-up if I’ve closed my Santander account since opening my Original BBL? If your business has already opened a Bounce Back Loan with us, and you didn’t borrow the full amount available, you may be eligible to apply for a Bounce Back Loan Scheme (BBLS) Top-up. The BBLS is managed by the British Business Bank. Have an existing Bounce Back Loan open with Santander. Eligible businesses can apply for a loan of up to £50,000, with a fixed rate of 2.5% p.a.. Parker Confectionery Ltd, trading as Josh's Chocolate, secured a government-backed Bounce Back Loan from Santander UK to help the business with its working capital and to diversify online. Santander currently offers Coronavirus Bounce Back Loans to small businesses affected by the pandemic. More than 69,000 Bounce Back Loans worth over £2 billion were approved during the first 24 hours of the scheme. How quickly will my BBLS Top-up funds be available to me? You will always remain responsible for repayment of the whole (ie.100%) of the debt. Timely, clear and adequate information that enables you to understand that, where you fail to make payments under your Loan with us, the amount missed, what can be done to remedy, in what timescales, and the impact (if any) on future repayments; Information about any proposed action we may take in respect of the Loan (upon any default by you), prior to taking such action; Regular information about the Loan (on at least an annual basis) in the form of a statement setting out details of the payment transactions in respect of your Loan during the period since such information was provided (or the date the Loan was advanced to you, if no such information has been provided previously) and amounts outstanding under your Loan; and. Please click the ‘Apply for a Top-up’ button at the bottom of this page. How will the BBLS scheme affect my existing loan? To be eligible for a top up, your business must have a Santander or Cater Allen account that is open. taxi or Food Standards Agency registration document. Santander UK plc. Glad to report that the high street banks have all got their Bounce Back Loan top-up systems live, however as predicted many … The Bounce Bank Loan Scheme (BBLS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). Can I apply for a top up with Santander if I took out my Original BBL with another Lender? What does ‘group’ mean in relation to BBLS? Under the rules of the BBL Scheme, you must transfer your full CBILS facility into a Bounce Back Loan. Your monthly repayments will be made up of capital and interest payable. Bounce Back Loan Top-Up Complaints and Problems Bounce Back Loan Top-Up Complaints and Problems. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. If you’re a sole trader applying for a Bounce Back Loan but have a Santander personal current account which you use for your business, you’ll need to provide us a copy of your full 2018/19 self-assessment tax return. If your business has already opened a Bounce Back Loan with us and didn’t borrow the full amount available (either £50,000 or 25% of the annual turnover as stated in the original application, whichever is lower), your business may be eligible to top up its existing Bounce Back Loan. Pay due regard to your information needs and provide information in a way which is clear, fair and not misleading. Timely, clear and adequate information that enables you to understand that, where you fail to make payments under your Loan with us, the amount missed, what can be done to remedy, in what timescales, and the impact (if any) on future repayments; Information about any proposed action we may take in respect of the Loan (upon any default by you), prior to taking such action; Regular information about the Loan (on at least an annual basis) in the form of a statement setting out details of the payment transactions in respect of your Loan during the period since such information was provided (or the date the Loan was advanced to you, if no such information has been provided previously) and amounts outstanding under your Loan; and. Small business grant funding of £10,000 for all businesses in receipt of small business rate relief or rural rate relief; and, Grant funding of £25,000 for retail, hospitality and leisure businesses with property with a rateable value between £15,000 and £51,000, Claim for wages through the Coronavirus Job Retention Scheme. Supporting your business with a government-backed business loan, Full eligibility details are included within the online application process, International payments and travelling abroad, Bounce Back Loan Scheme (BBLS) and BBLS Top-ups, Bounce Back Loan Scheme Key Facts Document (pdf) (803 KB), Business in Difficulty Guidance Questionnaire, Bounce Back Loans Scheme (BBLS) Key Facts Document (pdf), Bounce Back Loan Scheme Data Protection Statement (pdf), Total amount repayable over the term of the loan, Straightforward application with quick access to funds, Government covers the first 12 months of interest (this means you pay 0% for the first year), Interest rate of 2.5% p.a. You will not need to make any payments for the first 12 months, however, you can repay the loan at any time. "I've banked with them for years. While you don’t have to repay amounts under the BBLS for the first 12 months, you need to make sure that you carefully consider the loan amount you apply for and you feel comfortable that you could afford to repay in full. You can’t use your personal current account to apply for a Bounce Back Loan if you’re a limited company or partnership. Legal information  |  Accessibility  |  Sitemap  |  Cookies  |  Privacy  |  Your personal data  |  Modern Slavery Statement. If you have an existing Santander Business loan there will be no changes to this and the BBLS loan will be a separate loan for the additional amount that you apply for. The Bounce Back Loan Scheme is designed to support those businesses that were trading successfully before coronavirus, but now face difficulty as a result of the current disruption. Coronavirus Business Interruption Loan Scheme. What happens if I apply for a higher top up amount than I’m eligible for? This Scheme is available for UK companies that have been adversely impacted by the COVID-19 outbreak. If your business is eligible for a top up but request an amount higher than the maximum available, we will confirm this after you submit the application. Proof of the nature of your business such as: A third party invoice which has been paid from your account within the last 60 days addressed to you and your business. BBLS Loans are not subject to the usual consumer protections that apply to business lending and as such you will not have the benefit of the protection and remedies that would otherwise be available to you under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. The provision by the UK Government of this support does not imply any endorsement or warranty of Santander from the Secretary of State for Business, Energy and Industrial Strategy or  the  UK Government. We’ll contact you afterwards if this applies to you, You are not a Relevant Financial Institution (RFI), nor do you intend to become an RFI (as defined within Article 2 of the Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions Order) 2014), Full eligibility details are included within the online application process, Company name, address and company registration number (where applicable), Turnover for 2019 (estimates can be used), Santander business current account and sort code, Monitor repayments you make during the life of the Loan and take appropriate action to help you where there are signs of actual or possible repayment difficulties, Make appropriate adjustments if we identify you as vulnerable or we have reason to believe you may be vulnerable in order to ensure your circumstances are accommodated throughout the duration of the Loan. Scenario A A person (or group of people) owns a single company This is not a group. 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