Business Loans

HSBC handling of bounce-back loans branded ‘shambles’ by businesses

Small businesses are being pushed to collapse because of length of time HSBC is taking to process bounce-back loans, say owner-managers

News

Forgive all small businesses coronavirus debt, urges George Osborne

George Osborne tells Treasury select committee that Government should eventually write off all debt lent to small and micro businesses during Covid-19 crisis

News

Half of small businesses will never repay Bounce Back Loans, warn banks

Bankers warn the Treasury to expect 40-50% of Bounce Back Loans to be written off, while RBS boss Howard Davies calls for bad debt sinkhole for loan defaults

Business Loans

Nearly half of small businesses do not intend to repay government loans

Either small business owners do not believe government will take them to court for non-repayment or they fear they will have gone bust within a year

Small Business Banking

State could take equity in small businesses, suggests Lloyds chairman

Lord Blackwell, chairman of Lloyds, says government could convert bad coronavirus emergency loan debt into equity, giving it stakes in thousands of small businesses

Business Loans

Government plans permanent state-backed small business loan scheme

Business could borrow anything up to £10m through 80% state-guaranteed bank loans in successor to existing coronavirus financial support