Finally! Metro Bank opens for Bounce Back Loans…

Coronavirus, Finance,

After several weeks of unexplained delays, Metro Bank has finally opened its doors for existing customers to apply for Bounce Back Loans.

The key link to make your application is this one.

Metro Bank was approved by the British Business Bank to offer the loans back on the 13th May, so have taken nearly a month to get their system up and running. At the end of last week their website was still saying that they were testing the application process.

Let’s hope the wait was worth it!

The website recaps on the features of a Bounce Back loan and suggests that payment should be ‘within three working days’ if an application is successful. If they can meet this timescale from the start, and maintain it, that will be good news!

If you’re eager to start your application process, you can follow the link above and request an email be sent to you when you reach the front of the queue.

You therefore don’t have to sit and watch the count down!

This will be good news, given the queue just after 2pm was more of more than 3,000 people.

If you do request the email option, you then have a ten minute window to start your application when you get to the front of the queue.

We expect the application process itself to be very simple, in line with the processes we’ve already seen from the other lenders. You will need to self certify your turnover in the year to the 31st December 2019, and answer some other basic questions. There is nothing onerous within the requirements.

In case you missed it above, the link you need is this one.

If you have any questions, please do get in touch. Do let us know how you get on with the application process, and of course how quickly your loan is received. This will be the proof of the system that seems to have taken such a long time to bring to the market!

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