Monica Coyle, 51, from Kilmarnock in Ayrshire, a former NHS nurse, was director of Positive Pulse Limited, a health and wellbeing company that provided health checks to employees of businesses. She had also been president of business and professional women’s group Ayrshire Business Women in 2019.
Ms Coyle applied for the Bounce Back Loan in May 2020 after the COVID-19 pandemic impacted her business.
She falsely declared turnover of £130,000 in her application, rather than the actual turnover of her business, which was less than £5,000.
As a result, Ms Coyle received a BBL of £30,000, of which she spent over £26,000 on personal use.
Bounce Back Loans were earmarked for small- to medium-sized companies impacted by COVID-19, and the loans were designed to support the company, rather than for the director’s own gain.
Positive Pulse Limited went into creditors voluntary liquidation in February 2022, owing £30,000 to the bank, in respect of the BBL.
The Secretary of State accepted a disqualification undertaking from Ms Coyle, after she did not dispute that she caused the company to apply for, and receive, a BBL of £30,000 that the company was not entitled to, following which she received personal gain.
Her ban is effective from 16 September 2022 and will last for 10 years.
The disqualification undertaking prevents Ms Coyle from directly, or indirectly, becoming involved in the promotion, formation or management of a company, without the permission of the court.
