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... here they go again, .ucking around pleading lack of clarity. Too much respect is given to the banks who, as usual, look after themselves first, never mind the sodding companies and public. Time for Gov to bang heads and not let banks hide behind existing codes of practice. When CV19 is over we need radical change in many aspects of life as we have it today. Never mind, we have radical forces within 10 Downing St capable of getting rid of the blood sucking Establishment.
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Agreed, I’ve given up trying to get a business saving CBILS loan with Barclays, it shouldn’t be that hard, 80% guaranteed by the gov and still they make you jump through a thousand hoops and try to charge ridiculous amounts of interest.Originally Posted by TheBlackHorse
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Yep, seeing it with quite a few of my clients, looking to get a loan to pay employees wages between now and when they are likely to receive the cash from the government for furloughed workers - asking for rates of interest of in the region of 20% (after the first year), personal guarantees from the directors along with financial forecasts for the next 3 years (who has a clue right now about the next 3 years cashflow?)- for most this is just a non-starter. Ridiculous in these times.
The government support at this point in time for small business is full of holes. More required I'm afraid.
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... it's not more support required, it's a very sharp stick placed in the appropriate part of the .ankers body that is required. The banks, consistently, show no acumen for dealing with reality. They are not fit for purpose. The commercial part of the banking system needs taking apart. Dominic is ready to do that ... soon, ffs ...
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Really? You have two threads up about the middlemen in a capitalist system, and the banks, and you are expecting a government led by Dominic Cummings to sort them out?
None so blind, and all that.
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My recollection of business banking is that Barclay's were always one of the worst. Having said that I used to have a cartoon pinned on my board relating to Midland Bank, Small Business Dept. Business man goes in to be greeted by a greedy looking manager saying "And just how small a business you would you like to become" whilst rubbing his hands.
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Heard a story earlier about a bank sending out a 15 page CBILS application form to one business who completed all the documentation only to be offered the loan they had already been offered previously but declined due to the high interest rates on the loan.
Hopfully a statement from Rishi Sunak later today insisting the banks relax their approach a little and offer the country's businesses the same sort of support that they received after the financial collapse in 2008. I won't hold my breath.
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... no pingu, you can't trust the Establishment to change anything. It's like lions being lead by donkeys (WW1 generals). It needs a maverick non-establishment character to clear out the self interested cronies.
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Are you really still trying to pretend to yourself that Johnson and his pals aren’t the ‘Establishment’. If they’re not, who is?
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I thought it was an April Fools. Wasn't it ? Didn't he have a chance to vote for an anti-Establishment party at the recent election ? I seem to remember he wasn't keen. Reap what you sow I say.
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