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Banks ordered to speed up coronavirus small business loans or they'll 'destroy people's livelihoods', BoE chief warns

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Bank of England boss tells banks to speed up coronavirus business loans

Chief executive of UK Finance, Stephen Jones, told the committee that to speed up the process for CBILS loans, which are still subject to financial stress-tests, the government should consider fully guaranteeing small emergency loans to business.

At the moment, the banks take on 20 per cent of the risk, unlike countries such as Germany, where loans are 100 per cent state-backed.

 

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There’s no help for SMEs

I think the economy won't bounce back after it's all over regardless of the amount of loans small businesses get.

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