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FREE Advice, Nationwide Coverage, Bounce Back Loan and Petition Support
RG Insolvency have helped many companies who took out a Bounce Back Loan (BBL) during the pandemic.
BBL’s were readily available to companies during the pandemic up to £50,000.
They are unsecured loans against the Company, with no personal guarantees attached to them.
If you find your business is unable to repay the remainder of the loan, you are still able to enter into an insolvency process. Having a BBL does not prevent this.
The appointed Insolvency Practitioners will be looking at two elements of the loan;
1. Eligibility – were the eligibility requirements for the loan met correctly?
2. Use – was the loan used for the intended purpose i.e. for business purposes.
If the above matters are all fine, there is nothing to worry about at all. If you are unsure, we are here to guide you through the potential issues and practical consequences (if any). We have vast experience in dealing with companies with BBL’s and other Covid finance.
RG Insolvency will advise you of all your options, your responsibilities and the consequences.
Call us now on 020 3603 7871 to discuss your options. Free and no obligation.
