Mis-sold business loan SME

SME businesses are able to claim back millions in mis-sold business loans.

During these tough times for small and medium sized businesses, and especially with the uncertainty of BREXIT looming too, we would like to help you to reclaim thousands of pounds of your money back.

Did you take out a Tailored Business Loan or Fixed Rate Loan for your SME with either the Clydesdale or Yorkshire Bank in England & Wales or Scotland?

If you answered yes then you could receive thousands of pounds in compensation and it is free to sign up to the action.  It is being conducted on a purely No-win, No fee basis.*

We are particularly keen to reach small and medium sized business owners who are facing difficult circumstances financial or otherwise, people who may not realise they are owed thousands, and in some cases six or seven figures, by the bank.  This could be life changing for you!

One of our clients is Jan Sheward who owned a successful catering business preparing and selling meals to the airline industry.  Jan took a loan out to fund the development of her business to the value of £1,768,000 with the Clydesdale Bank.  Yorkshire bank also handled the factoring of invoices for the business and without good reason or warning they suddenly refused to release factoring money starving the business of cash flow.  She complained to the bank and they sent an administrator in to assess the situation, after which despite this expert siding with Jan, the bank started to dispose of the business’s assets, eventually resulting in the business closing down. 40 people lost jobs.  Her farm estate was disposed of for a small fraction of its real value.  She also lost her home and all personal assets too.  All this happened while she was battling cancer and she has now set up a charity to try to help other cancer sufferers.

Jan is now part of our class action claim and we are helping to seek recompense for what happened to her and others just like her.  A court date has now been set for the end of the year. So far over 2,500 other businesses have signed up so make sure you act now before it is too late!

The class action is based on Clydesdale’s and Yorkshire Bank’s institutional dishonesty when selling Tailored Business Loans (TBLs).  ANY customer who was sold a Fixed Rate Business Loan or TBL is eligible to join this compensation claim so what have you got to lose?

The total amount of compensation for SME businesses is likely to be in the hundreds of millions of pounds. Individual amounts awarded will depend on a number of factors, including the size and term of your loan.

Our analysis calculates that the average claim size for direct losses for an SME business (excluding consequential losses) is £248,000.

Even if you have claimed before against Clydesdale Bank or Yorkshire Bank, you can still join the group action.

You can even join if:

  • You’ve previously had a complaint ‘time-barred’
  • The complaint was previously rejected
  • You have already accepted an offer of compensation
  • Your company is in administration or has been dissolved. (If your business has been dissolved you will need to reinstate it in order to join. We can do this on your behalf).

It is worth noting that if, like Jan, it can be proved that your SME business went into administration as a consequence of the loan, you could be entitled to a consequential loss settlement that would be much larger.

Complete our form here so one of our advisers can contact you.

Join us today while you still can and claim your money back before it’s too late!

*Fee maybe payable in the event that the customer cancels the agreement.

Talk to us about the Clydesdale and Yorkshire Bank Group Action

Talk to us about the Clydesdale and Yorkshire Bank Group Action

You have the right to shop around. You do not have to use a Claims Management Company. You should be aware that you may make a claim yourself directly to the financial institution or the Financial Ombudsman Service (FOS) free of charge. Alternatively, you may wish to seek advice from other non-fee-paying services such as the Citizens Advice Bureau or free Law Centres.

For information on our fees, please refer to our FAQ page.

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