4th October 2022

What would be deemed Bounce Back Loan fraud?

Bounce Back Loan (BBL) fraud is a pressing issue for the government, and as misuse of the Bounce Back Loan Scheme continues to emerge it’s important to know what might constitute fraudulent action.

By guest author Keith Tully of Real Business Rescue. Bounce Back Loans were designed to be used for the ‘economic benefit’ of a business, which essentially means commercial activity that supports the business. ‘Economic benefit’ is a broad term, however, and when Bounce Back Loans were issued there was little specific guidance. Legitimate uses of Bounce Back funding include refinancing debt that’s already in place, paying staff and director salaries, and supporting general cash flow. So when do...
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