UK removes state guarantees from almost £1bn in Covid loans
by Jasper Jolly and Anna Isaac from World news | The Guardian on (#6G1NA)
Decision on scheme run by British Business Bank pushes losses on to banks if borrowers fail to repay
The UK government has removed state guarantees from almost 1bn in Covid-19 emergency loans, pushing potential losses on to banks if borrowers fail to repay them.
The taxpayer-owned British Business Bank (BBB), which runs the loan schemes, removed state guarantees from 10,786 loans worth a combined 979m up to 11 October, according to data released under freedom of information (FoI) laws.
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