Here are the top 5 bbl mistakes and frauds that limited company directors can fall into - knowingly and unknowingly.
1. Taken TWO bounce back loans
2. Applying for too much based off your 2019 annual turnover
3. Taken a bounce back loan AND a CBILS loan, but didn't pay the bounce back loan back.
4. Spent the bounce back loan personally - house extensions, holidays, etc.
5. Continued to take dividends whilst I took the bounce back loan out when there weren't sufficient profits
#shorts #business #debt
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