Two out of three Covid-relief loans are being rejected
Changes to the government’s loan guarantee scheme do not seem to have helped increase uptake, figures from the Banking Association suggest
11 October 2020 - 17:42
Two out of every three applications for Covid-19 relief loans are being rejected, a sign that desperate entrepreneurs either have no realistic chance of surviving the lockdown or that banks are being too conservative in lending to businesses eligible for relief assistance.
This emerged from figures provided on Sunday by the Banking Association SA (Basa). ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.