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Its Scandalous millions will go bust
Banks have given vital coronavirus crisis loans to just 5,000 small British businesses during the coronavirus crisis.
Of 300,000 enquiries about the Government's Coronavirus Business Interruption Loan Scheme (CIBLS), fewer than one in 60 resulted in cash handouts.
The scheme - announced by Chancellor Rishi Sunak last month - encourages banks to lend to struggling small businesses as the government will cover 80 per cent of the amount.
Smaller firms can apply for grants of up to £25,000.
There are 5.8 million small businesses in Britain and it is feared that many will not survive the coronavirus crisis without the help, The Sunday Times reports.
But a complex application process and slow replies from banks is holding certain firms back from accessing the funds promised, a British Chamber of Commerce poll found this week.
Its Scandalous millions will go bust
Banks have given vital coronavirus crisis loans to just 5,000 small British businesses during the coronavirus crisis.
Of 300,000 enquiries about the Government's Coronavirus Business Interruption Loan Scheme (CIBLS), fewer than one in 60 resulted in cash handouts.
The scheme - announced by Chancellor Rishi Sunak last month - encourages banks to lend to struggling small businesses as the government will cover 80 per cent of the amount.
Smaller firms can apply for grants of up to £25,000.
There are 5.8 million small businesses in Britain and it is feared that many will not survive the coronavirus crisis without the help, The Sunday Times reports.
But a complex application process and slow replies from banks is holding certain firms back from accessing the funds promised, a British Chamber of Commerce poll found this week.
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It's completely ridiculous. Banks get to charge what interest they want - extortionate. This is paid by government (eventually tax payers) for first year along with arrangement fees so businesses won't mind rates too much especially if they need the money. Then on top of that the banks aren't processing them fast enough. Government should have just loaned the money direct to businesses and cut the banks out who once again are going to benefit from a crisis.
I know the situation is harsh, but why should we taxpayers bail out companies, businesses, and firms? I've paid many thousands of pounds the HMRC and this money shouldn't be to support other businesses.
The problem is Cutter ultimately it is the banks that benefit most. They will put out high interest rate loans backed by tax payer money. If the businesses go under they will get most of the money back from the govt. We need the businesses to provide jobs for people as ultimately if the businesses fail then the money instead of being diverted to business loans will just be to the unemployed which will ultimately be less productive to the economy and probably use more tax payers money as it will be hand outs and not a loan. The government know how banks work and would know they would be slow at getting money out too.
I've had businesses that have thrived and failed. This is no different. We should adopt Thatcher's laisser faire policy now.
elise 12 Apr 20 17:20
I can't imagine why they failed ....
I can't imagine why they failed ....
stay on script cutter, whichever character you play there's a fine line between n0bhead and ****
Elisawidow, the knob is something you are surely not going to get your hands around with me, baby.
i thought you were claiming to be intelligen?
have another go but make it interesting
have another go but make it interesting
Apr 12, 2020 -- 6:32PM, baracoudafan wrote:
Still not told us how old you are, Cutter
24 years, Sir, and looking forward to another 84 years on this wonderful planet.
My mistresses, Elise, are normally hooked in two posts, Elise, well there suspenders are.
i'm not really interested in you i was just bored, same dross different username
Given up in spirit already, Elisa? Beethoven's tune had more ****.
fur elise would sum you up fairly well cutter, don't forget to stay in character
24 and launched and failed multiple businesses. Well done. pLEAsEd you are young enough to still have to live through what is is to come, rather than being at or towards retirement age and fairly secure financially
I was independently a millionaire at 17. In a bedsit at eighteen. A millionaire at 20, and in a bedsit again at 21. Currently a millionaire again, Sir.
You could be the biggest plonker on this forum, and there’s some stiff competition
I've a big and stiff backbone resembling my beautiful langer.
Apr 12, 2020 -- 6:55PM, baracoudafan wrote:
You could be the biggest plonker on this forum, and there’s some stiff competition
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