Support with Bounce Back Loans | Ulster Bank

Yes. Under Pay as you Grow (PAYG), you can extend your original 6 year term to 10 years.

Note that this will increase your repayments and the total amount you owe as interest costs increase if you repay your loan over a longer period.

You can apply for multiple PAYG options, but we’ll process each request separately. Allow 2 working days after returning your loan documents for us to process your request.

If you've closed your loan servicing account or your business current account, you won't be able to apply for all PAYG options online.

You'll be able to access an online service using your Anytime Internet Banking login details. We'll be in touch to let you know when this is available.

If you don't have Anytime Internet Banking, you'll be able to apply by completing an online application form.

If you've closed your loan servicing account or your business current account, you won't be able apply for all PAYG options online.

The government has announced the Bounce Back Loan Scheme will close on 31 March 2021. You must have started your application by 31 March 2021 to be considered for lending under this scheme.

At the time you take out your Bounce Back Loan it will have a 6 year term. 

Any Top-Up amount will expire on the same date as your original Bounce-Back loan.

The government has announced Pay as You Grow (PAYG) options, which includes an ability to request an extension of your loan term from 6 years to 10 years.  

This PAYG option will be available at the end of your initial 12 month repayment holiday.

When you took out your Bounce Back Loan there was an initial 12 month repayment holiday. 

The government has announced Pay as You Grow (PAYG) options which includes an ability to request further repayment holidays during the life of your loan. Two types of repayment holidays are available: 

1. 6 month capital repayment holiday, where you would just pay interest costs during this repayment holiday. You can request this type of repayment holiday up to 3 times
2. 6 month full repayment holiday where you would make no repayments (but interest would continue to accrue). You can request this type of repayment holiday once 

These PAYG options will be available at the end of your initial 12 month repayment holiday. You can apply for PAYG options from 60 days before your first repayment date.

The Bounce Back Loan Scheme (BBLS) is now closed to new applications, including applications for Top-Ups.

BBLS applications received by 23.59 on 31 March 2021 can be processed through to 14 April 2021. Check the expiry date on your application form to submit your documents online in time to be considered for lending under this scheme.

If you’re waiting for us to open your loan servicing account to service a Bounce Back Loan, we’ll be in touch shortly with your first stage loan documents when we’ve opened your account. There’s no need to get in touch at the moment.

If you have a query about BBLS, or wish to discuss an outstanding application, please contact us using your usual bank contact.

To access your documents, you'll need to enter a unique passcode for additional security. We'll send this to the mobile number you provided. You'll be given the option to receive this as a text message, or via a voice call.

After you complete the first stage of your application, we'll send you two emails.

The first is a confirmation of the submission, sent from no-reply@app.csbils-eoif.ulsterbank.co.uk. The second email contains your application reference, and a link to complete and submit your documents online. This will be sent by adobesign@adobesign.com.

The application reference starts with 'CS'. Please keep a note of this reference, you'll need it to access your completed secure application documents later.

With unprecedented demand we're currently prioritising existing customers. Bounce Back Loans are available to existing Ulster Bank customers on or before 4 May 2020. If you opened a Ulster Business bank account after this date, you will not be able to apply for a Bounce Back Loan with us.

To access a Bounce Back Loan, please contact your current bank. If they are unable to assist, a list of accredited providers is also available on the British Business Bank website.

Yes, simply proceed through the normal application process.

If you’ve been approved for up to £50,000 under CBILS, we'll be in touch with you about switching to the Bounce Back Loan scheme.

You don’t need to do anything at this time and we’ll be in touch soon.

You can borrow up to an overall amount of £50,000 across the original Bounce Back Loan and the Top-Up combined. You won’t be able to borrow any more than 25% of your annual turnover (stated on your original Bounce Back Loan application). For example, if you originally were entitled to £50,000 but only applied for £40,000, you could apply for the remaining amount of £10,000. The minimum amount you can borrow for a Top-Up is £1000.

You don’t need to make capital repayments until the date that your repayment holiday on your existing Bounce Back Loan ends – 12 months after the initial draw-down of the original loan amount.

The government covers the interest on the Top-Up to the date where your original interest-free period on your existing Bounce Back Loan ends – 12 months after the initial draw-down of the original loan amount.

You’re only able to apply for one Top-Up, so think about what funds you’re likely to need.

Even if your annual turnover has changed since you made your original Bounce Back Loan application, you can only apply for a Top-Up of up to 25% of the turnover you stated on that original Bounce Back Application form.

A new turnover figure can’t be used or considered. This is a requirement set by the government as part of the Bounce Back Loan scheme and is not something we can change.

When your repayments start, your interest charging frequency will change from monthly to quarterly. Interest will continue to accrue daily on the balance you owe, but we'll debit it from your loan account quarterly, instead of every month. 

This means you'll pay slightly less interest across the life of the loan and your final instalment will reduce as a result.

You'll be able to access an online service using your Anything Internet Banking login details. We'll be in touch to let you know when this is available.

If you don't have Anytime Internet Banking, you'll be able to apply by completing an online application form.

If you've closed your loan servicing account or your business current account, you won't be able apply for all PAYG options online. 

If you have a Business Current Account or Loan Servicing Account with us, we'll set up regular monthly repayments from your account. Repayments will start on the first repayment date and continue every month until the loan is repaid. We'll send you an SMS message once we've set these up.

If you don't have a Business Current Account or Loan Servicing Account, you'll need to set up regular monthly repayments to your Bounce Back Loan. Please arrange this with your current bank.

Pay As You Grow options could provide flexibility for you to meet your repayment obligations.

If you’re still concerned about making your repayments, please visit our website.  You'll find help and support on what you can do if you're worried about finances. There's also a list of organisations who can give you free advice.