Bounce back loan + CJRS

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andydd68 replied

1 May 2020, 10:26
Apply for a coronavirus Bounce Back Loan - GOV.UK

Doesnt seem to matter if you have or havnt furloughed staff. it goes live on Monday 4th
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Andy Hallett replied

30 April 2020, 21:00
You are running a business. You can apply for a loan and furlough your worker(s).

The minimum period of furlough is 3 weeks and requires documented consent.
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oliverson replied

30 April 2020, 12:03
Originally posted by ladymuck View Post

I don't know what the requirements are for the loan - I'm sure the detail will come out soon enough (if it's not out already).

I would get the loan first then furlough...

Interesting. I guess technically I couldn't be applying for the bounce back loan if I was furloughed either. I'd also want the option of paying the loan back early just in case a contract came along (I'm tulip at investments!).
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ladymuck replied

30 April 2020, 11:52
I don't know what the requirements are for the loan - I'm sure the detail will come out soon enough (if it's not out already).

I would get the loan first then furlough...
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oliverson started a topic Bounce back loan + CJRS

30 April 2020, 11:46
Bounce back loan + CJRS

Just wondering whether it would be possible to furlough yourself to get the CJRS and at the same time take out a bounce back loan? I mean, what would you put down as the purpose of the loan, assuming you had to? You couldn't exactly say R&D or anything really that involved your input because you're furloughed? Wouldn't the logic be to claim the CJRS for as long as it lasts and when the scheme ends, apply for a bounce back loan? I'm figuring here that I'm going to give my plan B a proper go, instead of playing at it like I have done over time, and need to establish how long I can survive given the varying levels of support (and my own assets). Thoughts?
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