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?