The Bounce Back Loan Scheme (BBLS) has recently ignited an uproar on social media which can be traced to a few key issues; the British Business Bank has placed lending limits on BBLS-accredited lenders which has caused these firms to tell customers they have to stop lending until a higher limit is approved; the overall program is better than the CBILS which required loans to be reviewed and approved instead of lenders; lenders have also been forced to serve existing customers first, much like the banks have been doing; new customers are finding themselves at the back of the line waiting and many will not receive funds in time; there is also a small segment of SMEs who have used the Current Account Switching Service to move banks and are stuck in limbo as their previous relationship was ended and the new one does not offer them priority for the BBLS; the BBLS is showing to be a better program than CBILS but it is not without its own issues for SMEs in desperate need of funding. Altfi
