Explanation for Bounce Back Loan Agreement

THINGS TO CONSIDER BEFORE APPLYING FOR THIS PRODUCT

Before signing this fixed sum loan agreement (the ‘agreement’), we’d like to explain some of the
key product features and repayment commitments. This is an important legal document and you
should read this in its entirety in your own time. We recommend that you obtain legal advice and
make sure you understand this document and are satisfied that the product is right for you before
you enter into it.

Regarding the Bounce Back Loan Agreement

This agreement will show the repayments and total amount payable based on the loan amount.
We will charge a fixed amount of interest, which we add to the loan when we open the account.
The total amount payable by you is the sum of the interest and the loan. When the account is
opened, you will be responsible for repaying the whole of this loan at all times and we will
always try to recover the full amount of the loan from you. But you are able to repay all, or part
of the loan early by giving us notice.

The provision of any guarantee by The Secretary of State for Business, Energy and Industrial
Strategy of any Bounce Back Loan provided by us does not imply any endorsement or warranty
of us by The Secretary of State for Business, Energy and Industrial Strategy, the British Business
Bank as their agent or the UK Government.

To accept the terms of this agreement, please sign and return this letter to us. Unless we agree
otherwise, you must do this within 14 days from the date on which we have issued this
agreement to you.

Bounce Back Loan Agreement

The Fixed Sum Loan Other Terms For a Small Business Loan which you can find online at
https://www.metrobankonline.co.uk/globalassets/legal-information/our-service-relationship-
with-business-customers.pdf (as varied by us from time to time after the date of this agreement)
form part of this agreement as if they were set out here in full. Where there is any inconsistency
between the Fixed Sum Loan Other Terms For a Small Business Loan and this agreement, this
agreement shall prevail.

1.0 Parties to the Agreement

1.1 Lender (“we/us”): Metro Bank PLC, One Southampton Row, London WC1B 5HA

1.2 Customer (“you”): Florenta Popastica

2.0 Purpose

You will only use the loan we provide under this loan agreement for the purpose of providing
economic benefit to your business including, but not limited to, working capital or investing in
your business and to support trading or commercial activity in the United Kingdom. In addition,
if you are a charity the loan may also be used for the purpose of furthering the charitable
activities of the charity (the Eligible Purpose)

3.0 Duration of the Agreement

The duration of this fixed sum loan agreement (the loan agreement ) is 72 months, from the loan
drawdown date.

4.0 The Total Amount of Credit

The amount of credit (loan amount) £46,000.00.

5.0 Currency

The currency of the loan will be Sterling.

6.0 How and When Credit Will Be Provided

6.1 The loan agreement will start on the date you have signed, dated and returned to us the loan
agreement, and will continue until it is fully repaid to us. By signing and returning this
agreement to us, you confirm to us that you wish to draw down the loan as soon as possible and
that the proceeds should be credited to your Metro Bank current account.

6.2 Once you have entered into this loan agreement this request cannot be amended and draw
down of an amount equal to the loan amount will, subject to paragraph 6.3 below take place
automatically without you taking any further action.

6.3 Before the loan can be drawn down we will carry out such financial crime related checks or
confirmations as we consider necessary, advisable or desirable. If the results of these are not
satisfactory to us (in our entire discretion) we will not and will not be obliged to make the loan
available to you and the proceeds of the loan may as a consequence not be credited to your Metro
Bank current account.

7.0 Rate of Interest

7.1 The interest rate which applies to the loan agreement is 2.5% (fixed) per annum.

7.2 We calculate interest on a daily basis which means that the repayment figures stated in this
loan agreement could vary even where the rate of interest has not change.

8.0 Repayments

8.1 You are solely responsible for making the monthly repayments and for repaying the amount
you owe us under the loan agreement.
8.2 You won’t need to make any repayments of capital for the first 12 months after the date you
draw down the loan. You also won’t need to make any repayments of interest for the first 12
months after the date you draw down the loan. This is because you have agreed to the business
interruption payment (the BIP) offered by the UK Government. The BIP will cover those interest
payments on your behalf for that period.

8.3 The first repayment is due on the day falling 13 months after the day on which we transfer
the loan amount to your Metro Bank current account, and you will repay the loan in 59 monthly
payments each of £ 816.37 followed by a final repayment of £ 816.44 to be made on the same
day of each month thereafter. If any month does not have such a day, payment is to be made on
the last day of that month.

8.4 Your Metro Bank current account will be debited each month with the amount of your fixed
monthly repayment. You must make sure that there are sufficient funds in the current account in
time to meet the repayment in full. It is your responsibility to allow sufficient time for any
repayment to be received, cleared and processed by the due date for such repayment.

8.5 Unless you are required to repay the loan amount earlier under this loan agreement, you must
pay us all outstanding amounts under this agreement (including accrued interest), by the date 72
months from the loan drawdown date.

9.0 Bounce Back Loan Guarantee

9.1 This facility is supported by the Bounce Back Loan Scheme (BBLS), managed by the British
Business Bank on behalf of, and with the financial backing of, the Secretary of State for
Business, Energy and Industrial Strategy. We can only make the loan available to you if we
receive a guarantee from the UK Government under BBLS (the BBLS Guarantee). The BBLS
Guarantee provides us with a full guarantee, should you default on repaying this loan.

9.2 The BBLS Guarantee is provided to us and not to you. You remain responsible for repaying
the whole of this loan at all times and if you fail to do so this may negatively affect your credit
score or rating with credit rating agencies.

9.3 We have agreed in connection with the BBLS to certain obligations in respect of our
relationship with you, including making certain information available to you in relation to the
loan. For more information, refer to https://www.metrobankonline.co.uk/help-and-
support/forms/give-us-feedback/ which includes details of our complaints handling procedure
and your right to complain to the Financial Ombudsman Service.

10.0 Total cost

10.1 Your total indicative costs for the first 12 months following drawdown of the loan, which
will be covered by the BIP, will be £ 1149.82.

10.2 The total amount you have borrowed plus interest is £48,982.27. Being the aggregate of the
loan amount of £46,000.00 and total accrued interest £2,982.27 calculated on the assumption all
monthly repayments are made on the dates specified in the loan agreement.
11.0 Other Fees

You will be required to pay us any loss or expense we may incur if you breach this loan
agreement, or related to us enforcing our rights under the loan agreement if you are in breach.

12.0 Early Repayment

12.1 You have the right to repay the loan early, in full or part.

12.2 If you wish to do so at any time, you should contact us at Metro Bank PLC, One
Southampton Row, London WCIB 5HA or on 0345 08 08 500 and ask for a settlement quote,
which will tell you either how much to repay to settle the loan in full, or the impact of partial
early settlement, as the case may be. We will also tell you when and how to make an early
settlement payment.

13.0 Representations and warranties

13.1 You represent and warrant to us on the date that you accept this agreement; (ii) the date on
which you make a drawdown; and (iii) each date you make a payment of capital and/or interest
to us that:

(i) you have the power and authority ((a) if you are a partnership, under the terms of any
agreement or resolution of your partners or (b) under the terms of terms of any agreement,
resolution or signing mandate under which you are bound) to enter into this agreement and to
perform the obligations contained in it;

(ii) entering into this agreement does not and will not breach the terms of any agreement between
you and a third party (such as another loan agreement) and you are not in breach of any of the
terms of any such agreement;

(iii) to the best of your knowledge and belief, entering into this agreement does not contravene
any law, regulation, directive, judgment or order to which you are subject;

(iv) entering into this agreement does not and will not result in you exceeding any limitation on
your powers to borrow or incur financial indebtedness;

(v) there is no litigation or arbitration or other administrative process currently ongoing or

pending or to the best of your knowledge threatened against you (other than any such litigation,
arbitration or process that you have already notified to us);

(vi) none of the events listed in clause 14.1(iv) to (viii) have occurred or, to the best of your
knowledge, are about to occur;

(vii) all information provided to us and all declarations made by you in your application form for
this loan are true, accurate and complete in all material respects and there has been no change
since you provided that information which makes the information untrue or misleading in any
significant way, and all projections and statements of belief and opinion given by you were made
honestly and in good faith after due and careful consideration, and remain valid;
(viii) you are acting for your own account, and you have made your own independent decision to
enter into this agreement and as to whether the terms and conditions contained in this agreement
are appropriate or proper for you based upon your own judgement and upon advice from such
advisers as you have deemed necessary. You are not relying on any communication (written or
oral) from us as advice or as a recommendation to enter into this agreement;

(ix) you are capable of understanding, and understand and accept the terms, conditions and risks
of this agreement;

(x) you are freely entering into this agreement; and

(xi) if you are a partnership, no person has taken any step (a) which could result in your
termination or dissolution; or (b) to terminate any document or agreement constituting you.

13.2 You undertake to:

(i) give us any information we reasonably request including information about your financial
position, trading activities or anything we need to satisfy our ‘know your customer’
requirements; and

(ii) tell us if you breach this agreement or if an event of default occurs or becomes reasonably
likely to occur;

(iii) notify us as soon as possible in any information provided as part of your loan application
becomes or is found to be untrue, or circumstances are such that any of that information is
materially changed.

13.3 You confirm to us that:

(i) you will use the loan wholly for the Eligible Purpose; and

(ii) if you are a partnership, you will not, without our consent, allow any partner to resign or
appoint a new partner.

14.0 Events of Default

14.1 An event of default will occur if:

(i) you do not pay any amount due to us under this agreement when due;

(ii) any one of the representations and warranties you make to us under this agreement is or
becomes materially misleading or incorrect;

(iii) you breach any provision of this agreement (other than those referred to in paragraphs (i) to
(ii) above);

(iv) any of the following events occur:

a. a petition is presented for a bankruptcy or sequestration order to be made against you or (if
there are more than one of you) any of you or

b. any expropriation, attachment, sequestration, distress or execution or any analogous process

affects any of your assets;

(v) you dissolve or cease to trade;

(vi) you have a proposal for a voluntary arrangement presented to you or you agree to make a
voluntary arrangement;

(vii) (if you are an individual) you die or become of unsound mind or (if there are more than one
of you) any one of you who is an individual dies or becomes of unsound mind;

(viii) if you are a registered charity, (i) the Charity Commission for England and Wales takes any
enforcement action against you, (ii) an interim manager is appointed by the Charity Commission
for England and Wales in respect of you, or (iii) you cease to be a charity registered with the
Charity Commission for England and Wales; or

(ix) any liability for payment or repayment of money, howsoever arising, under any other finance
arrangements you are a party to is not satisfied when it becomes due or any such liability is, or
becomes capable of being, declared due prior to its stated date of payment or there is an event of
default (however described) under any other finance arrangements you are a party to.

14.2 If an event of default occurs, or if we are required to take such action to comply with the
law or because a court or other authority tells us to act in that way, we may:

(i) cancel all or part of the Facility and we will have no further obligations to you;

(ii) demand immediate repayment of all amounts due to us under the Facility; and/or

(iii) declare that all or any part of the Loan is repayable on demand,

but we will give you advance notice and (unless the problem cannot be fixed) the opportunity to
fix the problem before taking any of these steps.

15.0 Existing Security

To the extent that we hold any personal guarantee or security over a principal private residence
or a primary personal vehicle in respect of liabilities you may owe to us from time to time, we
confirm that any liabilities you owe to us under this agreement will not be secured by that
guarantee or security.

16.0 Set-off and Currency Conversion

16.1 We may at any time, without giving you prior notice, use any amount standing to the credit
of any account which you hold with us (even if the balance on that account is not then due and
payable to you for any reason) to pay off all or part of any amount then due and payable by you
to us under this agreement (whether in respect of interest or principal or otherwise). We will give
you notice as soon as reasonably practicable after exercising our rights under this clause.

16.2 We may make any required conversion of the currency of the money in an account into the
currency of the sum you owe us using our then current exchange rates.

17.0 Transfer

17.1 You can’t transfer any of your rights and obligations under this agreement.

17.2 We can transfer any of our rights and obligations under this agreement to anyone.

18.0 Joint Borrowers

If you consist of two or more persons:

(i) they will be jointly and severally liable to us for the loan and for any other moneys from time
to time owing to us in respect of the loan;

(ii) the event of default provisions will apply if any event of default occurs in respect of any one
of such persons;

(iii) any notice given to any one of them under this agreement will be notice to all of them; and

(iv) if at any time any one or more of the provisions of this agreement is or becomes invalid,
illegal or unenforceable against any one or more of them, it will remain enforceable against the
others as if it had been addressed to only to those others.

19.0 Terms applicable to Partnerships only

19.1 This clause applies to you if you are a partnership only.

19.2 If any partner who is an account holder dies or ceases to be a partner or the partnership, we
may treat any continuing partners who are account holders as having full power to carry on the
partnership’s business and to deal with its assets as if there had been no change in the
partnership. This applies unless we receive written notice to the contrary from any of the
continuing partners who are account holders, or from the executors, personal representatives or
trustees of any deceased partner who was an account holder.

19.3 If part of the business loan is outstanding:

(i) When a partner who is an account-holder dies, the deceased partner’s estate remains
responsible for paying the debt and we may require payment from the deceased partner’s assets;
and

(ii) When a partner who is an account-holder leaves the partnership, that partner and each
continuing partner who is an account-holder remains separately responsible to us to repay all the
debt.
19.4 The partnership must tell us immediately if there is a dispute between the partners about the
partnership business.

20.0 Information about this Agreement

20.1 This agreement constitutes the whole and only agreement between you and us relating to the
subject matter of this agreement and supersedes any previous agreement, whether express or
implied. By accepting this agreement you accept that we have made no recommendation or given
any advice to you in respect of this agreement, have not undertaken any form of credit, suitability
or affordability checks and we accept no responsibility or duty of care for your decision to
borrow, and that we are not acting as fiduciary for, agent of, or as an adviser to you.

20.2 The interest rate shown in this agreement is fixed and will not be changed by us.

20.3 If we agree with you to amend any term of this agreement such amendment will only be
effective if in writing and signed by both of us.

20.4 If you are a partnership, this agreement will remain in force (subject to each of our right to
terminate) even if you change the name of the partnership, new partners join or current partners
leave.

21.0 Contacting you

21.1 We may contact you by using any contact details you have provided to us. We may want to
contact you to tell you something about our services or the running of your account. You should
make sure that the arrangements for receiving mail at your address are safe.

21.2 You must notify us if your name or contact details change. If you do not tell us, we will
continue to use the details you last gave us.

21.3 We will not be responsible if we fail to contact you because we are using the details you last
gave us. We will also not be responsible if we send your statements or other private information
to the wrong address (including an electronic address) using the details you last gave us.

21.4 When we say that we tell you about a change or other matter ‘personally’, we mean that we
tell you by post, email, secure electronic message, a message on your statement, or in any other
way that will be sent or given to you specifically. We recommend that you save copies of
electronic notifications for your records.

22.0 Reliance on security and access to your private information.

22.1 We will assume that we are dealing with you if we are provided with your security details to
access your private information or use the facilities we provide under our online or telephone
banking service. We are not responsible if we give someone else access to your private
information or use of the facilities we provide you under our online or telephone banking
services in reliance on his or her provision of your security details, unless we are at fault.
22.2 It is essential for you to take proper care of your security and other details, and to tell us of
any changes in your contact details.

23.0 Missing Payments Warning

Missing payments could have severe consequences. For example, we could demand immediate
repayment of the loan amount, it could make it difficult to obtain credit in the future or it could
result in us taking legal action against you in order for us to recover anything you owe us under
the loan agreement, and this could result in enforcement action. Any associated legal or other
costs may be added to the amount you owe to us. If we choose not to enforce our rights under
this loan agreement at any time, we may enforce them at a later date instead.

24.0 Complaints

24.1 If you have a complaint about the credit agreement, please contact us in any of the
following ways: phone us on 0345 08 08 500 and speak to one of our Customer Service
Representatives or write to us: Dan Frumkin, Chief Executive Officer, Metro Bank PLC, One
Southampton Row, London, WC1B 5HA.

24.2 The Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN is the
supervisory authority under the Consumer Credit Act 1974.

25.0 Ombudsman Service

You may have the right to complain to the Financial Ombudsman Service, if you are not satisfied
with the way we deal with your complaint, by writing to Financial Ombudsman Service, which
provides a free independent complaint resolution service. It can be contacted at: Exchange
Tower, London E14 9SR, calling 0800 023 4 567 or 0300 123 9 123 or sending an email to
complaint.info@financial-ombudsman.org.uk

26.0 Other Conditions

This following conditions precedent must be met in a form or substance satisfactory to us before
we provide the loan to you:

26.1 You have signed and returned to us a copy of this agreement.

26.2 You have signed and returned to us a duly completed direct debit mandate.

26.3 You have returned to us, the form of information declaration provided to you by us, duly
signed, dated and completed without any amendments or variations; and

26.4 No Event of Default is continuing or would result from the making of the loan.

27.0 Governing Law and jurisdiction

27.1 English law will apply to this agreement. If there are any disputes under this loan agreement
and about our dealings, these disputes will be dealt with by the courts of England and Wales.
These courts shall have exclusive jurisdiction to determine any dispute arising out of or in
connection with this agreement.

27.2 As at the date of this agreement, we do not use any alternative dispute resolution services.
We are not part of any alternative dispute resolution scheme. If we join any voluntary complaints
handling resolution or other alternative dispute resolution scheme in the future, you agree that
this agreement will not be subject to its jurisdiction.

This agreement may be signed by electronic signature (as defined in the Electronic
Communications Act 2000) and shall have the same legal effect, validity and enforceability as if
signed by hand written signature to the extent and as provided for in any applicable law
(including the Electronic Communications Act 2000).

We can each sign different copies of this agreement and these copies will, together, form a single
agreement.

By signing this agreement the signatory below confirms that s/he has the necessary power and
authority to do so for and on behalf of you and to bind you to the terms of this agreement.

SIGNATURES

Signed for and on behalf of Florenta Popastica by

Florenta Popastica

Signature

17th Sep 2020

Date

Signed for and on behalf of Metro Bank PLC by

Aisling Kane

Signature

Chief Operations Officer

Position

17th Sep 2020

Date
The Date of latest signing / execution is the date of this agreement

Monday - Friday: 8am - 8pm • Saturday: 8am - 6pm • Sunday: 11am - 5pm
Local Call Centre: 0345 08 08 500 • metrobankonline.co.uk

Metro Bank PLC is registered in England and Wales, company number: 6419578. Registered office: One Southampton Row, London,
WC1B 5HA. We are authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is the registered trade
mark of Metro Bank PLC.