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More than 1.4million businesses are given more time to repay Covid ‘bounce back’ loans over fears of economic catastrophe Chancellor Rishi Sunak is expected to announce a ‘pay as you grow’ scheme Almost £4.5billion has been loaned under the Government scheme so far New measures will allow businesses to extend loan terms from six to … Read more
More than 1.4million businesses are given more time to repay Covid ‘bounce back’ loans over fears of economic catastrophe Chancellor Rishi Sunak is expected to announce a ‘pay as you grow’ scheme Almost £4.5billion has been loaned under the Government scheme so far New measures will allow businesses to extend loan terms from six to … Read more
Amigo Loans plots new scheme to pay off customers in last ditch bid to stay afloat By Daily Mail City & Finance Reporter Published: 21:51 GMT, 25 January 2021 | Updated: 21:51 GMT, 25 January 2021 Amigo Loans has launched a last-ditch attempt to stay afloat following a wave of customer complaints. The controversial guarantor … Read more
Banks raid accounts to claw back Covid loans: Cash seized from hundreds of businesses in scramble to stop fraud on bounce back scheme HSBC, Barclays, NatWest and Lloyds Banking Group have all begun freezing business accounts linked to suspected fraud They have seized sums of up to £50,000 from the accounts of hundreds of customers … Read more
Demand for business loans during the pandemic lifts profits at peer-to-peer lender Funding Circle By Daily Mail City & Finance Reporter Published: 21:51 GMT, 18 January 2021 | Updated: 21:51 GMT, 18 January 2021 Peer-to-peer lender Funding Circle said its total income in the final six months of 2020 was up 26 per cent Demand … Read more
Banks to charge 35% on emergency loans: Crippling rates loom for firms as experts warn that new crisis in spring will be worse than 2008 Lenders have used the Chancellor’s flagship £19billion loan fund to saddle businesses with ‘usurious’ rates Businesses will face crippling repayments from March as the loans hit their one-year anniversary dates … Read more
Deutsche Bank AG is to sever all ties with President Trump and the Trump organization according to a source with knowledge of the sudden business decision. But the bank will still be forced to deal with the Trump family and their employee for some time to come with outstanding loans of more than $300 million … Read more
Why did overseas firms like Chanel get Bank of England coronavirus loans? By Neil Craven, Financial Mail on Sunday Published: 21:52 GMT, 9 January 2021 | Updated: 21:52 GMT, 9 January 2021 In the bag: Luxury fashion firm Chanel was one foreign firm to benefit The mammoth Bank of England loan scheme was drawn up … Read more
Giant firms hand back billions in coronavirus loans: JCB and Westfield lead the race to repay Bank of England – and British taxpayers Half of the 14 largest loans from an official list published last June have now been repaid Those seven loans were worth £4.2billion It is understood that many smaller loans have also … Read more
Mortgages reach a 13-year high: More than 100,000 loans for house purchases got the go-ahead in November, marking highest monthly figure for more than three years Some 105,000 loans for house purchases got the go ahead, the BoE said This was up from 98,300 in October and marked the highest monthly figure since August 2007 … Read more