Small firm loans aimed at John Peachy

John Peachy have you seen they are bringing a fast track scheme for interesfree loans up to £50,000 out
for small businesses.Would that help you out pal.Dont know if you have seen this.

 

Hope it can help out @John Peachy

 

Bump

 

Loans were limited up to £3000 before if you did not have rateable property. I've not seen anything to say that's changed. You've still got to put a case to your bank that you can repay, which I'm fairly nonplussed about, as I don't know if I'll be able to go back to work in the next 12 months.

I've now applied for Universal Credit, but won't find out what i'll get till 29th May ... ******* brilliant!

It is utter horse *****. No help for people who've worked their ****** off all their lives.

 

PS, thanks for the concern, been following up on loads of stuff, but things keep being promised & then when you apply there is some technicality why you don't qualify. They haven't done this with all the large corporates that are furloughing thousands of staff.

 

Customer of mine has been chasing his 10K for his unit that he rents, he finally tracked down the decision maker at the Council, they admitted they had paid the previous tenant by mistake and he has to take it up with the previous tenant as they won’t repay it.
Keep at it m8 and hopefully it will work out for you.

 

Hi mate, if you’re wanting some work just to fetch abit of money in during the lockdown then I can always get you on at our place. If you’re bothered drop me a pm.

hope things work out for you pal, I really do.

 

Apparently John this is supposed to be a new thing coming out and you did not have to start paying it back for 12mths
but as you say things change.

 

No, it is just extending the government guarantee from 80% to 100%, as less than 1 per cent of people applying were being approved. I get a mail out of news from the Musicians Union every day, so if there is actually more on offer than £3000 we'll see, although I'm not convinced how I could pay it back, if I don't know when I can work.

My choices are:

A; Fold my company, leaving about 400 people who have paid deposits high & dry. In which case I'd never be able to trade again in the DJ industry (all these people have my address). I could then take up a different career.

B: I manage to survive & slowly trade out of it. If restrictions were lifted I could probably borrow money at that stage, as I have a list of bookings as long as your arm & could supply cash flow forecasts & have a clean borrowing / credit record.

 

Hoping it can be option b for you.