UK to launch a government-backed loan scheme to help companies recover

More from the UK Chancelor Sunak (and again, info via Reuters)

Scheme to launch today, Tuesday 06 April 2021 

  • government-backed loan scheme
  • to help companies access finance (available through commercial lenders and the government providing an 80% guarantee)
  • loans ranging from 25,001 pounds to 10 million
  • to replace existing COVID-19 programmes
  • in addition to an existing grant scheme to help companies restart trading.

Errrr … this bit is interesting …

  • interest rates will be capped at 14.99%

15%???? Thanks but no thanks?

More from the UK Chancelor Sunak (and again, info via Reuters)

Source

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