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Topic History of: Money...for old rope...
Max. showing the last 5 posts - (Last post first)
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Barney |
100,000 applications on the first day
Many can't avoid looking a gift horse in the mouth
Free money - without risk
No questions asked....
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Barney |
Coronavirus Business Interuption Loan Scheme (CBILS) - this facility is called
Very generous - £50k unsecured, interest free with no viability criteria
However - the fine print and conditions - would require Einstein QC to decipher
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Barney |
Barney wrote:
Providing thousands of pounds to micro-businesses is ground breaking; as there will be little time for analysis of the claimants.
Usually - when a bank considers lending - due diligence is undertaken, to assess risk and repayment ability.
However - the £25k appears to constitute a quasi grant, for the smallest of business entities - many of which are just not viable.
This Small Firm loan scheme will be available from Monday to businesses - on an unsecured and interest free basis.
And without the need for a viability study. Only a 'simple form' has to be completed - with some fraud checks.
£50,000 is now readily available, at banks, to - pubs, shops, restaurants, building firms etc. - to get them over the crisis.
Undoubtedly the most generous credit ever made available to anyone - anywhere.
Showing, as I said before, just how seriously the government is viewing things.
Money is simply no object...
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wyot |
Similarly Hedda I am already sick of the TV ads now being all about bloody Corona and trying to make a buck by promoting themselves against a load of sentimental tosh.
An ad I saw last night 5 times would have you believe Natwest are a branch of social services.... |
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hedda |
So many taking advantage of the virus: all the telcos and on-line services like Ebay etc have laid people off but it's ludicrous as (I'm sure it's same in UK & EU) entities like on-line sellers are booming and telcos must be pulling in millions in new fees. |
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