Applying for the Bounce Back Loan Scheme
This guidance is for customers who manage their small business through an existing Halifax Personal Current Account. We are only able to support customers who had an account with us before 2 March 2020.
To be eligible for the Bounce Back Loan Scheme
You’re not required to maintain a Business Current Account to manage your Bounce Back Loan, and you can switch provider of your Business banking relationship at any time while retaining your loan.
If you’ve already opened a Business Current Account through this process, we’ll email you in September to ask if you want to keep your existing Business Current Account or open a fee-free Loan Servicing Account instead.
We will only open a Business Current Account or a Loan Servicing Account if you:
- Are managing your business through an existing Halifax Personal Current Account which was open before 2 March 2020
- Are a sole trader or applying on behalf of a Partnership, Club, Society or Association
- Were trading before 2 March 2020
We’ll check each of these as part of the application process. If you do not meet the above criteria then we are not able to open an account for you at this time.
We aren’t able to open an account for you if you are:
- A Limited company
- A Limited Liability Partnership
- Managing your business through a Personal or Business account held with another provider
You will need to contact your main business account provider.
What happens after I apply for a Business Current Account or a Loan Servicing Account?
After you have applied for either a Lloyds Bank or Bank of Scotland Business Current Account or Loan Servicing Account, you will be able to apply for the Bounce Back Loan Scheme with your chosen provider.
You can apply for the scheme online on your chosen providers website, more information can be found here:
Lloyds Banking Group is a financial services group that incorporates a number of brands including Halifax, Lloyds Bank and Bank of Scotland. More information on Lloyds Banking Group can be found at lloydsbankinggroup.com.