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Bounce back loan?
Posted: Mon Sep 21, 2020 12:49 pm
by carmen401
Hello, I am involved in IVA since last year, I am self employed for 6 years, my Profit from self-employment in 2018-20I9 was £7843. Can I appy for bounce back loan please? Thank you
Re: <t>Bounce back loan?</t>
Posted: Mon Sep 21, 2020 1:14 pm
by kallis3
Not 100% sure but I would doubt it. You are not allowed more than £500 credit without permission of your IP. How would you manage to pay it back?
Re: <t>Bounce back loan?</t>
Posted: Mon Sep 21, 2020 2:19 pm
by lifenoteasy
BBL is not credit checked but will be based on the turnover going through your bank account - not what your profit was.
If you are self-employed, rather than limited, you will probably have to check with your IP, especially if the money went into your personal bank account.