Last updated: 01 April 2020
00:00 – Covid19 business interruption loan scheme, covert. That’s a bit of a tongue ties in it. Coven business interruption, loan scheme, smaller medium, medium sized businesses, sole traders, all limited companies should qualify and the government is putting the up to 5 million pounds per business, which they will guarantee.
Now, my understanding is that guaranteeing 80%. They are asking the bank to guarantee 20% the bank is reluctant to guarantee 20% unless it’s the most robust business. They want to make sure that you were in a good place in December 19 they’re taking a bit of a pessimistic view on whether you’re going to be good to go off to November 19 that number, November 20 so the may off the directors too.
Stump up some security. I w you know, I wouldn’t do that. I would put pressure on your MP to get the government to force the banks to do, take a risk themselves. They’d be bailed out enough.
01:00 – It’s time for them to take a bit of a challenge. Right? So the, the, the loan is available by application and normally the application will take between three weeks and maybe three months.
You know, the banks are overwhelmed with the amount of demand for loads. And excuse me. Uh, they’re overwhelmed with the demand for loans. And let me just turn this off. And, uh, you know, it may take a while and it may be you don’t qualify for the reasons I’ve explained above. So you’ve just got to be prepared for what may happen next.
Okay, so the loans are at preferential rates. Apparently the first 12 months on the stand, I’m going to be completely interest free. First they were going to be for the first six months, then he’s extended to 12 months of Inglewood. December. We’ll wait for the paperwork to come out to be sure, but you can click on the link and windows.
As soon as it’s announced, we will put it on our link. Okay, so that’s where we’re going to be. We are going to be putting all our 02:00 – information. Come back to this page, bookmark this page on a regular basis. Keep an eye out on my YouTube lives. Keep an eye on my Facebook lives. Keep an eye out on. My YouTube channel.
Uh, and of course the websites, that’s where they’re going to be the main place. So after 12 months, they’re going to be looking at a moderate rate of interest. They say preferential rate. We don’t know when that is, but it does mean that if you were making enough money to live before the loan, now you’re going to have to make in a new Covance, in a postcode at 19 environment.
Which in my mind will start off being a little bit more tricky because people are coming back from isolation. They’re coming back from having no much money. They coming back from yes, being socially worried, all of these things, right? We’ll have an impact on psyche, in my opinion. Maybe not yours. However, if that is the case, it may take a bit longer now.
If you were 03:00 – close to the edge before now when you come back, even if everything was the same, you now have got to make the same amount of money you want before, plus a bit more to pay the interest, plus a bit more to repay the loan. Now, if you do everything in the same, you know, same old, same old, I don’t know how that’s gonna work for you, right?
Which is why we’re putting together these programs throughout April. To begin to think about business ready to completely free for business owners and whether in the UK or worldwide, I don’t care. I love business owners because they have helped me be who I am. If it wasn’t for my mentors and coaches teaching me this stuff, I wouldn’t be where I am and I wouldn’t be able to, I wouldn’t have been able to help the clients I have.
And so it’s when we write that up, put stuff back as long as I can. Right. So. In April, I’m going to be doing it completely free because I want businesses to benefit from it. I want them to be 04:00 – Bulletproof, if you like, for a new environment, so that they can not only earn more and pay back the loans and pay back the interest, but also give themselves a better quality lifestyle as a reward for getting through this problem.
So hopefully that works for you. If you get, if you look for the load, please take professional advice. You know, they’re going to be looking at cashflow forecast. We’ve got pages on our site for cashflow forecasts and stuff, so you can download the templates, but , you know, it sounds self-serving and. Well, my, my mentor keeps saying, stop apologizing for help, trying to help people stop apologizing.
You help people do better. You help them take less risks. You help them earn more money. You help them look out for their families and the team stop apologizing for it. But nevertheless, whenever I think, I’ll look at what, you know, I could help them. It comes up that I this just think, look on him. Then try to say, I’m helping you for free.
But if we, if you need a cashflow 05:00 – forecast, if you need to review whether you should be getting a loan. Then the best places to take advice from someone you trust. Now that’s someone should be not a yes man is just going to go, I’ll get a fee and if I just say yes, I will get the fee whether we get the loan or not.
If I don’t think you should be getting low, I’ll tell you you shouldn’t and I’ll tell you why you should. Now, whether you agree with me or not, I don’t care because I have to give you my opinion. Honestly. Now, if you don’t agree with me, sat me. That’s absolutely fine. I care. I couldn’t care less as long as I’m true to myself, and I’m true to you.
And so that is the way I work with, with businesses. I work with clients, and you’ll see some lovely testimonials on our side to tell how I do talks. Right. Okay. So, uh, keep that in mind. Uh, if you get a loan, please take professional advice. It is so important that you do. And, uh, if you do for me, I will give you 100% honest, reflective 06:00 – advice based on my understanding.
And I want you to get an understanding about me first. So come to some of the workshops, get an idea of how I think, how I work, how I communicate. And if that is right for you, then we can work together. If it’s not, then you haven’t wasted anything other than a little bit of time. Instead of watching Netflix, you watched me and you’ve gone, no, I don’t agree with this guy.
I’m outta here and that’s absolutely fine for me. Okay. I don’t want to be pushing my stuff on anyone who. Doesn’t really appreciate, um, my views because my views are my views. I’m not going to change my views that have got me success and brought my client’s success because one of three of 10 people doesn’t, don’t agree with me.
I did a video while I got to go on. I hate to say it doesn’t worry me because I know to myself and what I’ve done and what I’ve achieved and help others achieve through the advice I give, it’s all worked out fine. So I know I’m happy with giving that advice. Some people don’t like it. That’s absolutely they prerogative.
All right. Enough of that and rants. This is Gordon. If you get a loan, please get help. Please know that he’s better 07:00 – than an overdraw, but neither may be right in, in the environment, depending on your business model before you went in, or I’d take care of this is going and wishing you well. Stay safe, stay healthy, stay calm, and let’s get through this.
Thank you. Bye bye.
