<p><strong>From:</strong> Rachel Rossiter &lt;<a href="mailto:rachel@harcourtinns.co.uk">rachel@harcourtinns.co.uk</a>&gt;<br />
<strong>Sent:</strong> Thursday, June 25, 2020 11:27:44 AM<br />
<strong>To:</strong> John Soden &lt;<a href="mailto:john.soden@moorgateindustries.com">john.soden@moorgateindustries.com</a>&gt;<br />
<strong>Cc:</strong> James McCulloch &lt;<a href="mailto:james@harcourtinns.co.uk">james@harcourtinns.co.uk</a>&gt;<br />
<strong>Subject:</strong> Bounce Back Loan</p>

<p>Hi John</p>

<p>Hope you&rsquo;re well.</p>

<p>We&rsquo;re expecting a response today from Coutts re the bounce back loan applications for Maida Vale Leisure Ltd and Barts Pub Ltd.&nbsp; Once the application has been approved, the money lands in the account within a few hours without having an option to accept to draw down.</p>

<p>The terms of the loan are at 2.5% pa, repayments starting one year from acceptance, with the first years interest being paid by the government.&nbsp; On a &pound;50k loan, the total repayment is just over &pound;53k, so exceptionally good interest rates compared to traditional lending, monthly repayments being just &pound;888 per month so sustainable from a cashflow point of view.</p>

<p>Just following up on our call where we agreed to discuss this prior to accepting the BBLS, can we table this for agreement (or not) as soon as possible.&nbsp; I&rsquo;m going to leave this with you to discuss with the shareholder group, or representatives, and get back to us.</p>

<p>Kind regards</p>

<p>Rachel</p>

<p>&nbsp;</p>

<p>Rachel Rossiter</p>

<p>Group Finance Director</p>

<p>Harcourt Inns</p>

<p>T: 07915 615 930</p>

<p>E: <a href="mailto:rachel@harcourtinns.co.uk">rachel@harcourtinns.co.uk</a>&nbsp;</p>