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Banking sector urged to do more to help small business owners

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The banks have come under question in Parliament after it emerged there has been a low uptake on government guaranteed loans of R200 billion to help small businesses battling Covid-19.

Jacobs said the lending criteria by banks was still strict despite the government standing surety on the R200bn loans to small businesses.

"Three months after its much vaunted launch only R13.26bn out of R200bn has been committed to businesses," read Cosatu's presentation to the committee.

 

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