Year: 2021

It would make sense to allow banks to cherry pick their own customers if they were lending out their own money and taking on all risks when doing so. But let us not forget that Recovery Loans do have an 80% Government Guarantee, so taxpayers are backing them.

Once again, all on Rishi Sunak’s watch too, the British Business Bank are allowing yet another bank to do as they please with their Recovery Loan facility, and this time it is the turn of Santander to take the Mickey. […]

If you were given £1 for the number of Recovery Loans that HSBC have already rejected/declined, you would not need a Recovery Loan. This is yet more shame on Rishi and that ridiculous scheme that is not suited to small or average sized SMEs. […]

I have yet to hear of anyone approved for and paid out a Recovery Loan, which speaks volumes at just how successful that scheme will be at helping SMEs recover. But once you discover the underhand tactics that Barclays are using to put off or decline those applying all will become clear, with the approval I must add of the British Business Bank. […]