Government-backed loan scheme extended to all SMEs

Bridging Finance News:- All viable SME businesses will now be eligible for the coronavirus business interruption loan scheme, the chancellor Rishi Sunak has announced. The government is also going to stop banks from asking for personal guarantees from directors for loans under £250,000. Loans over this sum will need personal guarantees of 20 per cent of the amount after recovery of other business assets. Mr Sunak said: “We are making great progress on getting much-needed support out to businesses to [...]