Paying off Finance with bounce back loan?

[Squaredy]

6 hours ago, arboriculturist said:

I hope you have good fortune with your application. 

 

As you know a thing or two about milling, which super-wide bandsaw would you buy? I am sure you have tried a few and been researching these for years  ?

Thanks.  Not made a final decision yet but maybe Hudson.  

Hud-Son Oscar 52 Slabber Sawmill Large Diameter Bandmill

WWW.HUD-SON.COM

---

The Oscar 52 Portable Sawmill has a 52" log capacity and an cut up to a 48" wide board, making it perfect for all those large logs. 23HP Electric Start

  I was going to go to the USA in July and I would have visited the factory and seen one in use.  Sadly that trip is now off, so I may just order blind.  No UK dealer sadly so will have to import it myself, but I know plenty of people who have done similar so hopefully this will be smooth.

[Stubby]

4 hours ago, Big J said:

Ours came through yesterday. Easiest finance application I've ever done.

 

 

Strange that Jonathan  , seeing it is here , in the UK . ?

[Big J]

14 minutes ago, Stubby said:

Strange that Jonathan  , seeing it is here , in the UK . ?

I'm not complaining, quite the contrary. I'm not sure that is necessarily sensible to give out unchecked loans, but again, I'm not complaining.

 

[Al Cormack]

That was easy! Applied on line last night, Lloyds Bank.
Money in the account today.!!

[eggsarascal]

6 hours ago, Big J said:

Ours came through yesterday. Easiest finance application I've ever done.

 

I do reckon an awful lot of businesses won't be in a position to pay it back, and the government is going to be hit with picking up the bill on all those defaults. Suddenly, the furlough scheme won't seem so expensive!

We'll get going again then pay it back, or at least I'll pay mine back. 

[eggsarascal]

3 hours ago, Big J said:

I'm not complaining, quite the contrary. I'm not sure that is necessarily sensible to give out unchecked loans, but again, I'm not complaining.

 

People, or should I say I had to sign to say it was legit, due to Covid-19. If folk have bent the rules...

Edited May 14, 2020 by eggsarascal

[benedmonds]

On 13/05/2020 at 19:23, Steve Bullman said:

Has there been any mention of how long these loans are going to be available for?

 bbls available till November.. I think..

[dig-dug-dan]

Am I missing something? Everyone is applying to borrow money, it's got to be paid back with interest I presume? So why is this worth doing exactly??

[Big J]

15 minutes ago, dig-dug-dan said:

Am I missing something? Everyone is applying to borrow money, it's got to be paid back with interest I presume? So why is this worth doing exactly??

Interest is paid by the government for 12 months. Beyond that, it's 2.5% above base rate, which is effectively zero. So the money is free for the first year, and then basically at inflation thereafter.

[benedmonds]

30 minutes ago, dig-dug-dan said:

Am I missing something? Everyone is applying to borrow money, it's got to be paid back with interest I presume? So why is this worth doing exactly??

If you have other finance, this is cheaper so could save you money. It is free for 12 months.

If you are thinking about getting finance in the next 6 years, this is cheap and easy to get.   

But yes you do still have to pay it back so should be carefull.