Banks under pressure to fast-track business loans

The Telegraph | Mar 27, 2020 at 6:00 AM
  • Pressure is rising on bank bosses to ensure lifeline loans are reaching struggling businesses quickly enough following widespread criticism.
  • The British Chambers of Commerce (BCC) has written to bank chiefs urging them to publish data on how fast applications for the government-backed loans are being processed as well as the terms customers will be forced to sign to access the emergency cash.
  • The letter comes days after chancellor Rishi Sunak fired warning shots at the sector, urging bank chiefs to do more to save struggling companies amid the lockdown.