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#CBILS It seems RBS are responisble for 70% of CBILS loans so far. Looks like a lot of fingers need to be pulled out by all the competitor banks. telegraph.co.uk/business/202…
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SMEs face a critical few weeks with current help not yet good enough. Govt should overhaul CBILS and consider 100% underwriting as Germany and others have done. Businesses have waited weeks and can’t afford further delay. My letter to Alok Sharma:
Replying to @Barclays
@Barclays @BarclaysUKHelp not even putting forward our #cbils application so they can sell us their own lending requiring personal guarantees at fully commercial rates. All our personal "pre approved" lending facilities removed overnight also. @RishiSunak
If this is how you treat you Premier banking account holders with fully profitable businesses I can't imagine how badly you're screwing over regular customers. #cbils #profiteering
#cbils @Barclays @RishiSunak @BritishBBank Refusing to even put our application for CBILS funding forward on the grounds we qualify for their commercial overdraft facilites at full rates requiring directors guarantees. Barclays are unable to offer overdrafts under the CBILS 1/2
2/2 Scheme as they are unable to differentiate their existing facilities from CBILS facilities! We do not need a 30 sticking plasters you morons! This country is not going to be to normal this year. How ignorant and evasive can you be? #profiteeringbanks
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Unsupported by government beyond the failing #cbils, the pressure is on small ltd companies to furlough staff and pay them from their personal magic money tree.
These businesses can't survive, @RishiSunak - is that the plan?
#AskRishi @RishiSunak @Barclays @MartinSLewis #CBILS Why are Barclays not offering overdrafts under the CBILS scheme and diverting their customers to their own commercial products requiring personal guarantees? In any other industry this would be considered profiteering!
Replying to @CISIFBBB
#AskRishi #cbils For businesses to continue to pay the 80% salary you've promised all their employees (but not the owners), they actually need money to do so. If banks are unable to cope with the volume of applications what alternatives are you going offer now? #CashFlowCrisis
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Tory MP on @Emmabarnett just justified not covering ltd co dividends as "theyre not income"
They are income & taxed as income (not cap gain) but at a diff rate to earnings. Govt's made arbitrary decision not to include, thats a policy matter, but justifying this way's perverse.
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Replying to @bbclaurak
@bbclaurak Business support has stalled. The fatal flaws of #CBILS and #CJRS need addressing. Businesses are not getting cash, banks don’t want to lend, interest rates are extortionate, and there is govt silence. It’s a massive failure and no one is asking the right questions. – at Glasgow, Scotland
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This letter is an excellent summary of the feedback that we've heard from #SMEs on #CBILS. If the Start-up Loan scheme could be extended to #SMEs >3yrs old this could address the gap for businesses needing smaller loans @kevinhollinrake @SeemaMalhotra1 @BritishBBank
. @kevinhollinrake and @SeemaMalhotra1 have written to Andrew Bailey, Chris Woolard and John Glen regarding CBILS and the APPGs concerns that in practice the support does not meet expectations. Download the letter here: bit.ly/2X0gAVO
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If you have been following our recent posts, you will have seen our experts critiquing the shortcomings of #CBILS. We predicted that many businesses will struggle to access the emergency funding – which this @DailyMailUK article highlights. dailym.ai/2JDYUaF
ATS Diamond Tools retweeted
Replying to @AlokSharma_RDG
The PR machine is saying they don’t require personal guarantees, but their websites seem to indicate otherwise.
Here’s an example (taken moments ago) from @NatWestBusiness & @BarclaysBizChat
#CBILS @RishiSunak















