Member Since: 25th Oct 2010
7th May 2020
Thank you for this article, it's very helpful to hear the way the different banks are performing. I have read as much information on the loans as I can find and I can see it is for SME's, however I cannot find any reference to groups. If several small companies are part of a medium sized group, can each company (assuming that they qualify under other criteria) apply for this loan, so within the group there may be several bounce back loans of £50,000, but only one per company? I cannot see any reference to groups at all, which makes me think that each company in its' own right can apply. In this particular case, the companies within the group have all been severely affected by the current situation as they have lost all source of income and still have reasonably high levels of cost, therefore these loans would make a significant difference.