Thousands of struggling small business owners say greedy banks are 'cashing in' on virus crisis leaving them high & dry

Coronavirus Business Interruption Loan SchemeSmall firms can getVAT payments and self-assessment tax returns are deferredSMEs that cannot afford their tax bills can ask HMRC for a “time to pay” arrangement so any debt collection is suspended- almost £200 per employee up to 250 staff members - refunded by the government.Kate Stewart, who runs The Sandon pub in Liverpool, said she found applying a nightmare.

“They said that, because there’s equity in my property, there’s security for a normal loan, so I don’t qualify.“An entrepreneur who has opened their own beauty salon or hair salon, they wouldn’t have a chance.”Alex Harris, owner of bar Behind This Wall in Hackney, East London, said Lloyds steered him towards a conventional business loan with a 22 per cent rate because he owned his home.

KIDS’ nursery owner Julie Booth-Penman tried and failed six times to get through to HSBC to ask for a £200,000 loan.The number of youngsters she cares for has plunged from 60 to ten.“Three decades down the drain.HSBC agreed last night to rush through her CBIL application after being contacted by The Sun.

Banks cash in all the time.

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