Bounce Back Loan Scheme - Top-Up
Below is the standard Bounce Back Loan Scheme (BBLS) Top-Up application designed by the government.
Please complete the required information and review the declarations at the bottom of the form to assess if your business is eligible for a BBLS Top-Up.
Please ensure you have read and understand the implications of accepting the declarations prior to submitting the form.
BBLS Loan may be topped up to £50,000 (up to a maximum of 25% of annual turnover).
Please complete the details below for the business on behalf of which you are applying for a Bounce Back Loan Top-Up.
Please enter your Danske Bank Business Sort Code & Account Number:
So that we can contact you if there are any issues with this application, please fill in your personal contact details.
Please note that the total amount you wish to borrow when combined with your original Bounce Back Loan amount must be no more than 25% of annual turnover as certified in your original Bounce Back Loan application form. This is subject to an overall cap on the combined value of the original Bounce Back Loan and the Top-Up of £50,000. The minimum borrowing amount for a Top-Up is £1,000.
Business Interruption Payment (BIP)
As part of the Top-Up, the Government is offering a Business Interruption Payment which will cover your interest payments up until the expiry of the interest-free period on your original Bounce Back Loan (that is, 12 months from the initial draw-down date of your original Bounce Back Loan). The government will pay the Business Interruption Payment directly to your lender.
Please confirm that you are content to agree to this Business Interruption Payment1
2 As defined by EU Regulation 651/2014, a business is considered in a difficulty if it met any one of the following criteria on 31 December 2019:
- Individuals or companies that have entered into collective insolvency proceedings;
- Limited companies which have accumulated losses greater than half of their share capital in their last annual accounts (this does not apply to SMEs* less than 3 years old);
- Partnerships, limited partnerships or unlimited liability companies which have accumulated losses greater than half of their capital in their latest annual accounts (this does not apply to SMEs less than 3 years old);
- Where the undertaking has received rescue aid and has not yet reimbursed the loan or terminated the guarantee, or has received restructuring aid and is still subject to a restructuring plan;
- A company which is not an SME where, for each of the last two accounting years: (i) your book debt to equity ratio has been greater than 7.5; and (ii) your EBITDA interest coverage ratio has been below 1.0
You have selected that in your previous Bounce Back Loan application you declared you were a 'Business in Difficulty' as at 31 December 2019 in line with EU regulations as set out above. We would remind you that you do not have to be a 'Business in Difficulty' to avail of a BBL or Top-Up. Experiencing cash flow difficulties due to Covid19 does not mean that you are a Business in Difficulty, as at 31 December 2019.
Before confirming your 'Business in Difficulty' status, please review the EU regulations as set out above. If these apply to your business refer to the State Aid Form which sets out the maximum amount of State Aid you are entitled to. Please complete the State Aid Form questions which are relevant for your business in order to confirm, if appropriate, that your business is eligible to Top-Up.
With the submission of this loan application, you, the Borrower, declare the following:
When you click 'Send' you also agree to send your information to us at Danske Bank.
The information you provide will be held by Danske Bank UK. We'll use it to process your request and help manage this account(s) and any services used. By continuing, you confirm you're happy with this and that you've had a chance to read the how we use personal information guide.
After you submit, if the details included in your application are correct and your business is eligible for a Top-Up based on your self-declarations you will receive a facility letter from us within a few working days to your business's registered address or Business eBanking. You should sign this document in line with your business's usual signing processes and return it to us as soon as possible.
(If you experience any issues submitting the form, please ensure you have completed all fields above. Any incomplete fields will be highlighted in orange)