European SMEs in Rush to Take Up Government Backed Loans

Businesses in Europe are having varying success of getting support from government backed stimulus programs; In France small businesses have received 450,000 requests for loans while Germany has received 400,000 and the UK over 300,000; while in some countries businesses have been happy with the process there are many businesses who found the process complex; in the UK there were concerns that some banks were hiking interest rates on loans; the government there also approved more institutions to provide loans which included OakNorth and Starling; in this blog post we discuss more in detail what’s happening across Europe with government backed loans and some of the challenges specific to each country. Lend Academy

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