“The banks are treating small businesses with total disdain”: Britain’s loan program stumbles
A month into the U.K.’s coronavirus lockdown, money from a massive loan program is only trickling out, leaving small businesses at risk of going under. Critics blame the slow pace on banks and government rules aimed at preventing the money going to companies destined to fail in any case.
The lending program, part of £330 billion of government support announced in March, uses banks to distribute state-backed loans.
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