Slow pace of lending to businesses comes under fire from groups in UK
Small and medium-sized businesses account for 60% of the UK's private-sector workforce and contribute 50% of the UK’s GDP
London — Business groups rounded on the UK government’s flagship lending programme for small and medium-sized companies after a report showed banks extended just £1.45bn of rescue finance in the past week.
The figure is double that of the previous week, UK Finance, the banking industry trade association, said on Thursday in a statement. The result is nevertheless stoking frustration that it is taking far too long for the Coronavirus Business Interruption Loan Scheme (CBILS) to give businesses the help they need to stave off bankruptcy. The Confederation of British Industry is among lobby groups warning of a slow pace of lending...
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