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).

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now