New Posts For Thread: Government Business Loan Grantshttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grantsWhen Sunak brought this out last month, he said the government would guarantee these loans to the banks. However the banks are looking at these in normal business transaction loans, ie, last 3 yrs accounts, 12 months cash flow projections.I spend halEveryone gets that, plenty of organisations want funds like, yesterday. As I've posted before, we're dealing with reality. People need to take a leaf out of Captain Tom's book, and stop with this incessant moaning.https://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559181933#559181933Everyone gets that, plenty of organisations want funds like, yesterday. As I've posted before, we're dealing with reality. People need to take a leaf out of Captain Tom's book, and stop with this incessant moaning.Thu, 16 Apr 2020 09:52:38 -0500Just seen on the bbc that india has relaxed its lockdown on farming, banking and public works. No doubt the approved loans for the uk will surge in the coming days as it becomes apparent how much of the banks have 'outsourced' their credit teams forhttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559181053#559181053Just seen on the bbc that india has relaxed its lockdown on farming, banking and public works. No doubt the approved loans for the uk will surge in the coming days as it becomes apparent how much of the banks have 'outsourced' their credit teams forThu, 16 Apr 2020 05:50:59 -0500As impossible mentions the businesses need the money now. The majority of money that will come out from the banks loans will be to businesses that don't need it as much as the ones that do as they will be easy credit applications. The businesses thathttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559178243#559178243As impossible mentions the businesses need the money now. The majority of money that will come out from the banks loans will be to businesses that don't need it as much as the ones that do as they will be easy credit applications. The businesses thatWed, 15 Apr 2020 12:55:11 -0500What criteria do you think the banks should be using, Deplasterer ? As Rishi said yesterday, 80% of this is our money, not his. It can't be a blank check. It can't be that difficult to do a projection in the line of the OBR's for example, based on thhttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559176813#559176813What criteria do you think the banks should be using, Deplasterer ? As Rishi said yesterday, 80% of this is our money, not his. It can't be a blank check. It can't be that difficult to do a projection in the line of the OBR's for example, based on thWed, 15 Apr 2020 10:13:44 -0500I think the government think a 100% guarantee could translate to a massive increase in fraudulent application similar to mortgage fraud during the housing market bubble. But the banks can be more vigilant and proactive eg have more loan assessors onhttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559176631#559176631I think the government think a 100% guarantee could translate to a massive increase in fraudulent application similar to mortgage fraud during the housing market bubble. But the banks can be more vigilant and proactive eg have more loan assessors onWed, 15 Apr 2020 09:53:43 -0500They shouldn't be loans through the bank. The government should just put out some grants for certain sectors and make the banks go interest only on loan commitments. I just can't understand how a bank can give a loan taking into consideration responshttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559176049#559176049They shouldn't be loans through the bank. The government should just put out some grants for certain sectors and make the banks go interest only on loan commitments. I just can't understand how a bank can give a loan taking into consideration responsWed, 15 Apr 2020 08:20:48 -0500daily mail,torygraph spend 12 months of year advising people to always have 6 months worth of cash on the hip for any emergencies ,but think its ok for companies to run out of cash in a fortnight even when government are paying their workers, you canhttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559175915#559175915daily mail,torygraph spend 12 months of year advising people to always have 6 months worth of cash on the hip for any emergencies ,but think its ok for companies to run out of cash in a fortnight even when government are paying their workers, you canWed, 15 Apr 2020 08:02:13 -0500Yes, the banks still have to underwrite 20% of the loan.Germany started from this position, quickly realised it wasn't working and changed it to a 100% guarantee.Once again, the UK is found wanting.CBILs faulty!https://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559175891#559175891Yes, the banks still have to underwrite 20% of the loan.Germany started from this position, quickly realised it wasn't working and changed it to a 100% guarantee.Once again, the UK is found wanting.CBILs faulty!Wed, 15 Apr 2020 07:54:18 -0500Banks only lending to investment grade businessesBanks NOT willing TO GUARANTEE the 20% burden the government have currently insistedWont be many companies risking that with PERSONAL guanteees from the owners necesssaryhttps://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559175695#559175695Banks only lending to investment grade businessesBanks NOT willing TO GUARANTEE the 20% burden the government have currently insistedWont be many companies risking that with PERSONAL guanteees from the owners necesssaryWed, 15 Apr 2020 07:01:37 -0500https://community.betfair.com/chit_chat/go/thread/view/94038/31642537/government-business-loan-grants?post_id=559175659#559175659Wed, 15 Apr 2020 06:51:30 -0500