Bounce Back Loan Scheme (BBLS)
The Bounce Back Loan Scheme (BBLS) helped businesses survive the pandemic, but for many directors, repayments have become a major source of stress. Rising costs, lower trading and other debts can make keeping up feel impossible.
We help you understand exactly where you stand, whether your business is viable, and what the safest next steps are. We will provide clear guidance and agree practical solutions that protect you and your business.
We help directors understand their situation quickly and clearly, so they can make informed decisions about Bounce Back Loan debt.
We offer tailored advice on repayment options, including Pay As You Grow, and what these choices mean for your business.
If insolvency is the right path, we guide you through every step, ensuring you’re protected and treated fairly under the government guarantee.
Appropriate uses of Bounce Back Loans
- Directors are sometimes worried about whether they used the loan correctly. If you’re concerned about scrutiny, possible misuse or what might happen if the company enters insolvency, we explain your position clearly and take the pressure off.
- Our role is to help you navigate these concerns calmly and professionally, so you know what risks do or don’t apply to you.
Problems repaying a Bounce Back Loan?
If repayment is becoming difficult, we help you explore all the options available, including payment holidays or extended terms under Pay As You Grow, and explain the impact each choice will have on your finances.
For many directors, these measures offer temporary relief but don’t fix deeper cash flow problems. When that happens, we step in to assess the bigger picture and guide you through the safest long-term solution.
Insolvency and Bounce Back Loans
If your company is no longer able to meet its debts, we help you understand whether it’s insolvent and what your responsibilities are as a director.
Should liquidation or administration be the right route, we manage the process from start to finish. The government guarantee on Bounce Back Loans usually protects directors from personal liability, and we ensure this protection is correctly applied so you can move forward with confidence.
Strike off and Bounce Back Loans
Many directors hope to close their business through a simple strike off, but outstanding Bounce Back Loans prevent this. If your strike off has been blocked or you’re unsure why, we’ll explain what’s happened and help you choose a compliant alternative that brings the matter to a proper close.
Expert help for Bounce Back Loan debt
We’ve helped many companies navigate the complexities of Bounce Back Loan debt, Our goal is to provide clear, practical advice that gives directors peace of mind at a difficult time.
Tom Fox | Head of Insolvency at Umbrella.UK
If youâre feeling overwhelmed by Bounce Back Loan repayments or worried about the consequences of falling behind, our team is here to help. We offer free, confidential consultations so you can understand your options before making any commitments.
