Originally posted by eek
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Anyone planning to claim a CBI loan?
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Anyone planning to claim a CBI loan?"
Collapse
-
Originally posted by ladymuck View PostAs I bank with HSBC, I thought I'd have a look at their terms:
Coronavirus Business Interruption Loan Scheme | Commerical Banking | HSBC UK
- Minimum £10k loan
- First 12 months interest free if you choose to apply for a Business Interruption Payment (which is essentially HMG paying the fees and interest)
- No personal security required for loans up to £250k
- Eligible borrowing reasons are: Short Term Working Capital; Starting up trading in the UK; Expanding an existing business within the UK; Buying a business (including goodwill) in the UK; Purchase of equipment; Purchase / lease of property; Developing a project; Additional Research and Development (business must carry out a commercial activity).
Could be very useful for some.
You can't apply online; you have to phone in. I suspect wait times will be long.
Leave a comment:
-
There are going to be a LOT of businesses up for sale soon, for the daring entrepreneur willing to take the risk. Takeaways, shops, pubs, etc. Probably realistically not me but I hope this spurs a wave of post-CV growth.
Leave a comment:
-
I hadn't realised anyone had their schemes up and running just yet. Well done HSBC.
Very surprised they are not doing this online, when everyone and their dog is desperately trying to keep the phones for emergencies only. That said, this might change as they get it smoothed out. We were advised to wait a few weeks (if possible) for teething troubles and the initial rush to go by.
Leave a comment:
-
As I bank with HSBC, I thought I'd have a look at their terms:
Coronavirus Business Interruption Loan Scheme | Commerical Banking | HSBC UK
- Minimum £10k loan
- First 12 months interest free if you choose to apply for a Business Interruption Payment (which is essentially HMG paying the fees and interest)
- No personal security required for loans up to £250k
- Eligible borrowing reasons are: Short Term Working Capital; Starting up trading in the UK; Expanding an existing business within the UK; Buying a business (including goodwill) in the UK; Purchase of equipment; Purchase / lease of property; Developing a project; Additional Research and Development (business must carry out a commercial activity).
Could be very useful for some.
You can't apply online; you have to phone in. I suspect wait times will be long.
Leave a comment:
-
All sounds great doesn't it.... but not for me I don't think. I don't like the idea of taking on any more debt or liabilities at this point in time. There is nothing to invest it in really that will make a difference for a year and taking it out and spending it comes with the obvious risk of not having it to repay in time.
I'm not on a precipice like some people are I may add so could be just the job for them.
As attractive as you make is sound with all the unknowns at the moment I'm not ready to take this on yet I don't think.Last edited by northernladuk; 30 March 2020, 15:10.
Leave a comment:
-
Anyone planning to claim a CBI loan?
The government are making these AFAIK very accessible to all businesses and self-employed people with (at least) 12 months interest free.
I wondered if many here were thinking "might as well" as a way to get emergency warchest on terms that are likely to be very good if you need it. My accountant said "you are never going to get a better loan".
Or maybe people are thinking to use it to invest in plan B or have some idea to invest it for a year and then repay?Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: