SMALL business owners, including Barclays and Santander customers, say they're still struggling to access vital bounce back loans three days since the scheme launched.
They're 100 per cent guaranteed by the government, and the government will cover the interest on the loans for the first 12 months, with firms able to pay back the remaining balance over the next five years at a 2.5 per cent interest rate.Barclays customers report problems completing online loan forms and being told they need to provide more informationfor the first hour of the scheme launching.
And someone else added: "I have exactly the same problem Cody [Barclays Bank worker] and can assure you my mandate and contact information are all 100% - no text from @barclays so what should I do?" But it's not just Barclays, some worried Santander customers say they're still waiting to find out if they're eligible for the scheme despite applying on Monday.
Santander says it's so far received 29,413 applications, has offered 19,795 loans worth a combined £559million, and has paid money into over 2,400 customers’ accounts.
4 days now I've not been able to access the online application nor speak to my bank due to 4 hour wait times BarclaysUKHelp
Bs ..