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READ MOREUK business lobby wants easier terms for government-backed loans
Britain’s government needs to relax lending terms for government-backed loans to smaller businesses to stop them going bust during the COVID-19 lockdown, the Confederation of British Industry said on Thursday.
Finance minister Rishi Sunak has so far rejected calls to give a 100% government guarantee to lending to small businesses, rather than requiring banks to take 20% of the risk and carry out their own, sometimes lengthy, credit checks.
Read more at Reuters.
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