Access to bank loans a struggle for businesses

SA’s four biggest banks have lent out only about R2bn to R3bn each since the launch of the government’s loan guarantee scheme in the middle of May, according to Reserve Bank deputy governor Kuben Naidoo. The scheme, negotiated by the…

Access to bank loans a struggle for businesses

Source

0
(0)

SA’s four biggest banks have lent out only about R2bn to R3bn each since the launch of the government’s loan guarantee scheme in the middle of May, according to Reserve Bank deputy governor Kuben Naidoo. The scheme, negotiated by the Banking Association SA and the Treasury, is meant to enable commercial banks to lend out as much as R200bn to otherwise viable businesses that are facing liquidity problems due to Covid-19. We speak to Business Analyst on why the figures seem so low, are businesses not struggling enough? We also speak to Black Business Council that has gone to the National Treasury to complain about the scheme saying its requirements are exclusionary.

0 / 5. 0