UK considering 100% guarantees on smallest business loans: FT

  • 📰 Reuters
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

British finance minister Rishi Sunak is preparing to offer 100%guarantees on loans to Britain’s smallest businesses after sustained pressure from Conservative lawmakers and the Bank of England, the Financial Times reported.

FILE PHOTO: Chancellor Rishi Sunak speaks during a daily news conference on the coronavirus disease outbreak, at 10 Downing Street in London, Britain April 20, 2020. Pippa Fowles/10 Downing Street/Handout via REUTERS/File Photo

But the FT said a new loans programme could be launched alongside Britain’s emergency 330 billion-pound scheme offering loans of up to 5 million pounds, with state guarantees of 80%, to small and medium-sized companies. Data published on Thursday showed banks had provided 2.8 billion pounds in loans, almost doubling from a week earlier.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Trump has gone loco!!!

It still leaves a cash-strapped business with a loan to repay and no way to be sure when they will have any income. I'd prefer the Government to be putting money into starting and remodelling business. Light the economic fire now with support for new industries.

Small businesses help prop up the economy. They’re finally realising where their bread is buttered. Must be a humbling experience.

All right!!!!🤑🤑🤑🤑

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines