Bounce Back Loans

Bounce Back Loans

The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000.

The government guarantees 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.

Loan terms will be up to 6 years. No repayments will be due during the first 12 months. The government will work with lenders to agree a low rate of interest for the remaining period of the loan.

The scheme will be delivered through a network of accredited lenders.

Eligibility

You can apply for a loan if your business:
is based in the UK
has been negatively affected by coronavirus

Who cannot apply

The following businesses are not eligible to apply:
banks, insurers and reinsurers (but not insurance brokers)
public-sector bodies
state-funded primary and secondary schools
If you’re already claiming funding
You cannot apply if you’re already claiming under the Coronavirus Business Interruption Loan Scheme (CBILS).
If you’ve already received a loan of up to £50,000 under CBILS and would like to transfer it into the Bounce Back Loan scheme, you can arrange this with your lender until 4 November 2020.

To Apply contact your bank or view the list from British Business Bank Website  https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/

1st May 2020 Covid-19 Update

Good morning,

We hope that you are staying safe and keeping well during this Lockdown period?

 

This is indeed a difficult time for all of us, but we are managing to keep going.  The Monthly and Quarterly  valuations are still on hold, but if you are in desperate need, please email huw@robertsboyt.com to request one.

There remains a lot of market volatility but with the Global Central Bankers agreeing a $6Trillion monetary and fiscal package, and reintroducing Quantitative Easing (QE) we are starting to see upward movements form what we see as the bottom of the V shape graph 17-19-19 March 2020.

With each and every passing day research companies are racing for a vaccine and we are getting closer. Hopefully Lockdown will be eased in the near future with PM Johnson promising an exit plan of a different nature from Lockdown next week.  The chief medical officers want us to learn about R. The rate of infection. It is currently below 1 at around 0.6-0.9.  This needs to stay below 1 for normality to return.  My understanding is that when the level of daily recorded new cases for Covid-19 and death from C-19 are down to double digit figures, we should be able to return to some normality, but with extreme caution that the infection rate R does not increase and go beyond 1.

 

On a slightly different note, Dr Richard Levinson of New York’s Belle Vue Hospital has urged everyone to get a Pulse Oximeter as well as a thermometer as a first line of defence.  Most households will have a thermometer to measure the temperature for fever, but the Pulse Oximeter will measure the level of oxygen in the blood.  The normal reading is 100 and as C-19 is a respiratory disease, it affects the amount of oxygen that goes into the blood.  If your reading drops to 80% you have a problem.  Chances are you won’t know about it.  If it goes down to 60% – that’s when you’re short of breath and go into hospital and probably go on a ventilator, which is usually too late.  The damage has been done. They cost between £20-£50 and are3 easily available on line.

For New Clients or Potential Clients who are concerned about their investments and pensions now is an excellent time to review. Drop us an email at huw@robertsboyt.com and we’ll send you a fact find to complete and you can outline what you need. We should get back to you very quickly.

Take care, stay safe, and hopefully see you soon.

 

Fellow of the PFS

Congratulations to our Director of Financial Planning Huw Roberts, who was recently awarded and received a Fellowship of the PFS at the graduation ceremony at Merchant Taylor’s Hall, Threadneedle Street, London

Our Latest team member

We are delighted to announce that Ella Brindley has joined the team having recently graduated in Accountancy from Cardiff University.  She is a member of the PFS and CISI and will be an Assistant Financial Planner.  We hope that she will become a Chartered Financial Planner in the near future.