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
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). ..