Debt collectors want bigger role in recovering bounce back loans

Source: Financial Times Date: 7th January 2021 Debt collectors in the UK are pushing the government to give them a bigger role in recovering unpaid loans from its £44bn business rescue programme, as the Treasury faces growing questions over how to minimise taxpayer losses from the scheme. The government provided banks with a 100 per cent guarantee to encourage them to quickly lend to small businesses at the height of the first wave of the coronavirus pandemic last spring. The bounce back loan scheme, which has since lent to more than 1.4m SMEs, was seen as essential for saving thousands of businesses from collapse. View full article on Financial Times

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