Bounce Back Loan. Eligible businesses can apply for a loan of up to £50,000, with a fixed rate of 2.5% p.a.. The total amount repayable over the term of the loan includes the Business Interruption Payment. Registered in England and Wales. Your business may be eligible for a BBLS Top-up if it meets all of the following criteria. I have a number of businesses; under the Bounce Back Loan Scheme, can I apply for a loan for each business? Yes, you can apply for a Bounce Back Loan if you have a Santander personal current account that you use for business. Be aware I have literally 1000’s of articles to load about BBL’s. How can I make sure I apply for the maximum top up available to me? Be aware I have literally 1000’s of articles to load about BBL’s. If you’re applying for a Bounce Back Loan but only have a personal current account which you use for your business, you’ll need to provide us a copy of your 2018/19 self-assessment tax return. Registered in England and Wales. Please tick this box to confirm that you agree to the data protection declaration contained in the Bounce Back Loan Scheme Data Protection Statement and confirm that you want to proceed with a Bounce Back Loan Scheme application or a BBLS Top-up to your existing Bounce Back Loan, Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. If you require a business loan over £50,000, please visit Corporate and Commercial Banking. The table below shows illustrative costs for a Bounce Back Loan. Santander Corporate & Commercial is a brand name of Santander UK plc (which also uses the brand name Santander Corporate & Investment Banking). The brand celebrates the simple life pleasures enjoyed by … You must have taken your original BBL with Santander to be eligible for a top up with us. 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). 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. With support from Santander UK, a Bounce Back Loan backed by the government was put in place to help the business with its working capital and to diversify online. Our Financial Services Register number is 106054. A website website was launched in May … You will be asked to confirm this before beginning 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. Applications must be made for multiples of £1,000. 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. Important information is included within documents which can be accessed via the links below. The Bounce Back Loan Scheme (BBLS) supports businesses by providing access to a source of alternative finance if you are impacted by the coronavirus outbreak. The Government has launched a range of support measures to help support businesses through the disruption caused by coronavirus including: Please refer to a summary of Government support or the Government support website for full details. How quickly will my BBLS Top-up funds be available to me? 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. Have an existing Bounce Back Loan open with Santander. 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. If you have any questions regarding these or require further information, please contact us. How quickly will my BBLS Top-up funds be available to me? To view these documents, you may need to download Adobe Reader. Take a look at the ‘Other account information’ section to learn more. Take a look at our ‘Top up my existing Bounce Back Loan’ section for more information. 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. You will not need to make any payments for the first 12 months, however, you can repay the loan at any time. Tooling funding. @Brown1988Danny @Bounce_BackLoan be interesting to see how many people are having issues with Santander. 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. The right to decline any application is reserved. Santander Bounce Back Loan complaints along with success stories are listed below. What if I don’t have a Santander current account or I’m not a Santander customer? 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. How do I know whether I’ve already taken out the maximum BBL amount available to me? Extension of Bounce Back Loan Scheme (BBLS): The closing date for new BBLS applications has been extended until 31 January 2021. What does ‘group’ mean in relation to BBLS? Information on options available to you for help and assistance, including sources of free independent advice. You should print or save copies of these documents for further reference and for your records. The Government will be covering interest payments for the first 12 months. Please note the maximum loan size available under BBLS is £50,000. Will the terms and rates of a BBLS Top-up remain the same? 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 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. Please ensure that you check your junk or spam folders. Yes, you can apply for a Bounce Back Loan with Santander if you are a Cater Allen business customer, please note that the timescales may be slightly longer due to additional processing required. The Government will be covering interest payments for the first 12 months. On Tuesday they contacted me saying some company has a marker against my company and that Santander are closing my account in 60 days. "I've banked with them for years. A current insurance schedule certificate related to your business or regulatory licence e.g. You should print or save copies of these documents for further reference and for your records. Can I apply for a BBLS Top-up if I’ve closed my Santander account since opening my Original BBL? 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. 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 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. You can only apply for one Bounce Back Loan per group. At Santander, we understand that to expand your operation you need access to finance. Not require you to pay any fees of any description (including on default) or any default interest except we may continue to charge interest at 2.5% per annum if the Loan is not repaid when due until such time as it is repaid. To be eligible for a top up, your business must have a Santander or Cater Allen account that is open. Our sector specialists are here to help you prosper. 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. 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. One on the advisors yesterday suggested that the application may be … Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The government will cover interest payable in the first year. 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. 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. If you’ve already taken the maximum available to you we will confirm this to you at the end of the application process. 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). What other forms of government support are available for businesses? Glad to report that the high street banks have all got their Bounce Back Loan top-up systems live, however as predicted many … 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. Bounce Back Loan Top-Up Complaints and Problems Bounce Back Loan Top-Up Complaints and Problems. It is now almost 48 hours since I applied for the bounce back loan for my Santander business account. Our day-to-day banking services cover everything you need to run your company finances, from accepting credit card payments to paying your bills. taxi or Food Standards Agency registration document. You can’t use your personal current account to apply for a Bounce Back Loan if you’re a limited company or partnership. 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.”. What if I don’t have a Santander current account or I’m not a Santander customer? 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. Applications must be made for multiples of £1,000. Also, failure to make your BBLS Loan payments when they fall due may result in legal proceedings being taken against you by us, which may result in us taking enforcement action against you in order to recover the monies that are owed. Please take this into consideration when choosing the amount of Bounce Back Loan to apply for. All lending is subject to status, availability, our lending criteria and the BBLS eligibility criteria. Please note: Any BBL applications received after 7pm will be accepted, but not processed until 9am the next day. To support you in completing your application for a BBLS Top-up, please have the loan agreement for your original BBL to hand. The maximum you can borrow is up to 25% of your business’ turnover in 2019. Once you’ve opened your BBLS Top-up, all details and terms of the loan, including interest and repayment dates, will be exactly the same as your original BBL. How will the BBLS scheme affect my existing loan? Registered Numbers 2294747 and 1533123 respectively. Have a Santander Business, Personal or Cater Allen account that is open. 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. Can I request a top up or increase my Bounce Back Loan amount? Can I apply for a top up with Santander if I took out my Original BBL with another Lender? British Business Bank plc is a development bank wholly owned by HM Government. 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. The loan is supposed to be astoundingly easy to apply for, utilising an online application form with only seven questions on it. Please check your junk or spam folders. Santander and the flame logo are registered trademarks. Before you start your application, please take a look at the Business Group Guidance Sheet. It is not (and is not intended to be) legal advice and may not be relied on as such. You can use our online chat for any questions you might have. 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. You should read and consider these documents before proceeding with your application. 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). There are no arrangement fees for setting up a Bounce Back Loan. Legal information  |  Accessibility  |  Sitemap  |  Cookies  |  Privacy  |  Your personal data  |  Modern Slavery Statement. Company A may apply for a Bounce Back Loan. A statutory sick pay relief package for small businesses. You can choose to accept or decline this reduced figure. Please be aware that this is a government backed guarantee scheme. Almost all business sectors are eligible for BBLS. What does ‘group’ mean in relation to BBLS? Extension of Bounce Back Loan Scheme (BBLS): The Government has now extended the closing date for new BBLS applications until 31 January 2021. So please check back daily for even more of them going live. You won’t need to make a monthly payment until month 13, at which point it will be fixed at 2.5% per annum for the rest of the life of the loan (another 5 years). The BBLS is designed to help you in circumstances where you wouldn’t We recommend reading the information in the document below before you apply. What happens if I apply for a higher top up amount than I’m eligible for? My turnover has increased since I submitted my original BBLS application, or I inputted my turnover incorrectly on my original BBLS application. 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). You will need the following information to apply for a loan from the Bounce Back Loan Scheme (BBLS): Please enter the information as it appears on your statements. British Business Bank plc is a development bank wholly owned by HM Government. If your business is eligible for a top up but you request an amount higher than the maximum available, we will confirm this after you submit the application. How will the BBLS scheme affect my existing loan? Partnership Capital Subscription Loan. www.santander.co.uk. Santander and the flame logo are registered trademarks. If you don’t have a Santander current account, find out how to apply. Can I apply for a top up with Santander if I took out my original BBL with another lender? 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. Calls may be recorded or monitored. The BBLS is designed to help you in circumstances where you wouldn’t The table below shows illustrative costs for a Bounce Back Loan. Sweeping and pooling. 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. Have an existing Bounce Back Loan open with Santander. We are expected to do the following in respect of your BBLS Loan (Loan): We are to provide you with the following information in relation to your Loan during its term: Please note the above is for information purposes only and will not be deemed incorporated into the Loan (nor provide you with any additional rights under it). 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. Personal Banking  |  Select  |  Business Banking  |  About Santander UK. Alternatively, we may terminate the BBLS Loan early, meaning you will have to pay the outstanding total amount payable early. Please click the ‘Apply for a Top-up’ button at the bottom of this page. Let us help you uncover the path to international success. Santander Bounce Back Loan complaints along with success stories are listed below. British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Read the latest Santander news, market developments and insights, as well as register your interest to attend our events held across the UK. 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. (Your business can only apply for a BBLS Top-up once). A 12-month business rates holiday for all retail, hospitality and leisure businesses in England. The BBLS is designed to help you in circumstances where you wouldn’t normally meet our eligibility criteria. When will I start making repayments on my 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. Visit any Santander branch Speak to your Relationship Manager santander.co.uk Page 1 of 2 Product features The BBLS Scheme The Bounce Back Loan Scheme (BBLS) supports businesses by providing access to a source of alternative finance if you are impacted by the coronavirus outbreak. Please read our dedicated Bounce Back Loan Top-up Frequently Asked Questions below before applying for a top up. You can choose to accept or decline this reduced figure. 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. The rules of BBLS state that. If you’ve already taken the maximum available to you we will confirm this to you at the end of the application process. Have a Santander Business, Personal or Cater Allen account that is open. Please contact us if you are having difficulties in making your repayments. 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. Your business wants to apply for a BBLS Top-up of at least £1,000 (if this amount is available to your business). The amount of the money that you borrow, the interest rate and the repayment time period are all fixed. 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. 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. Calls may be recorded or monitored. Bounce Back Loan News Archive. This means your overdraft will be removed in full. To ensure that your application is processed without additional information being required, please ensure that all of the details you input into the application reflect those on your business current account and match Companies House. However the rules of BBLS state that under no circumstances can you amend or increase the turnover that you stated on your original application. Your business wants to apply for a BBLS Top-up of at least £1,000 (if this amount is available to your business). Coronavirus Business Interruption Loan Scheme. If you want to, you can apply for a new overdraft on your business current account. I’ve been with Santander since it was Abbey. Yes, you can apply for a Bounce Back Loan if you have a Santander personal current account that you use for business. 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. 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