Lloyds lends over $1.2 billion on first day of Bounce Back program - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

While Lloyds successfully lent $1.2B on the first day of the Bounce Back loan scheme, the program itself is seeing preliminary criticism

But the Bounce Back scheme is seeing its own preliminary criticism. Mike Cherry, the national chairman of the Federation of Small Businesses, said that despite a "promising start" for the Bounce Back scheme, some firms were still reporting difficulties accessing applications or only receiving a "We'll call you" message in response to their inquiries.

The British Business Bank says it plans to accredit more lenders, but hasn't specified how many. We think the government should speed up its accreditation and tap all areas of the UK banking space — including business neobanks and alt lenders — to ensure funding is as accessible as possible and avoid some of the pitfalls it's seen with CBILS.

 

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

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney earnings plummet more than 90% as coronavirus wipes out more than $1 billionWalt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the company from the COVID-19 pandemic, which... I'm not worried, Disney will be ok. 58% drop in Sales & their stock hasn’t even budged. Made in Wuhan! This is CCP idea. Like fake Chinese Covid19 tests wear them at your peril Nike
Source: MarketWatch - 🏆 3. / 97 Read more »