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. 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.
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. 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. You can choose to accept or decline this reduced figure. Please check your junk or spam folders.
A single Direct Debit will be taken after 12 months to collect total payments due. To be eligible for a top up, your business must have a Santander or Cater Allen account that is open. The new Scheme, which opened on 6 April , aims to support businesses affected by Covid as they recover and grow following the pandemic. Further information can be found on the British Business Bank website. Visit british-business-bank. How much will it cost? Repayment example Representative 2.
The table below shows illustrative costs for a Bounce Back Loan. The total amount repayable over the term of the loan includes the Business Interruption Payment. Fees There are no arrangement fees for setting up a Bounce Back Loan. Important Information including Key Facts We are expected to do the following in respect of your BBLS Loan Loan : 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 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.
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. Money worries. Common struggles. Explain your circumstances to them and see if they can help with lowering repayments, or changing dates to better suit you. Take a look at our ways to cut your spending page for hints and tips. We also suggest completing a budget planner so that you can get an overall picture of your incomings and outgoings.
The amount of arranged overdraft interest you pay depends on the amount of the overdraft you use in a month. We might be able to organise a long term payment plan for you to pay back the arranged overdraft back at an affordable cost. Independent organisations like PayPlan and StepChange may also be able to help you. Check our independent help and support page for more. Arranged overdrafts can be reduced if you ask us online, over the phone or in a branch.
When you're ready just let us know you'd like us to reduce your limit. If you're using your overdraft and you're struggling to repay it, it's really important that you talk to us about it so we can work out if there's a better option for you. If you're unsure what your overdraft might cost please visit our cost calculator. Then you can see what repayments you may be able to afford. A member of our team will be able to discuss the options available and find a solution that works for you.
See our 'Ways to get in touch' section for more info on getting in contact with us. To help us ensure that your call is dealt with efficiently and by the correct team, please provide brief details of your situation. This is an impartial service set up by the government to provide information and advice on a wide range of personal financial matters, including debt and borrowing.
Visit the site. This organisation provides a wide range of advice and support to anyone experiencing a mental health problem and their website contains a section on financial help for individuals.
The Money Advice Service provides a free online budget planner and advice on how to complete a budget plan. We are here to help, and promise to deal with your situation in a Simple, Personal and Fair way. We promise that we will:. Sort code: Account number — Reference — your mortgage account number. To make sure we get the best solution for you we need to understand your circumstances.
Please complete our simple form and select the budget planner option. Please fill in the initial form and select the budget planner option. Skip to main content. Personal Support Help with managing my money Pay or manage an overdue amount. Pay or manage an overdue amount. Answer a few simple questions below and we'll help get to the best solution for you. Current account.
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