{"id":1982,"date":"2020-03-25T05:09:15","date_gmt":"2020-03-25T05:09:15","guid":{"rendered":"https:\/\/smeloans.com\/?p=1982"},"modified":"2024-02-20T05:16:56","modified_gmt":"2024-02-20T05:16:56","slug":"covid-19-fintech-watch-fintechs-warn-government-sme-loans-will-fail-us-bank-branches-close-bank-of-england-scraps-stress-test","status":"publish","type":"post","link":"https:\/\/smeloans.com\/index.php\/2020\/03\/25\/covid-19-fintech-watch-fintechs-warn-government-sme-loans-will-fail-us-bank-branches-close-bank-of-england-scraps-stress-test\/","title":{"rendered":"Covid-19 Fintech Watch: Fintechs warn government SME loans will fail | US bank branches close | Bank of England scraps stress test"},"content":{"rendered":"\n
\n

Fintechs warn the government’s SME loan scheme will fail.<\/strong> Announced just days ago by Chancellor Rishi Sunak, members of the fintech community including Tide <\/a>and Iwoca <\/a>are already urging a rethink.<\/p>\n\n\n\n

\u201cI have written to the government today to outline that the Coronavirus Business Interruption Loan Scheme, accessible via the British Business Bank,<\/a> has a worrying lack of reach,\u201d said Tide <\/a>CEO Oliver Prill.<\/a><\/p>\n\n\n\n

In The Times<\/em><\/a>Iwoca\u2019s<\/a> CEO Christoph Rieche <\/a>said: \u201cThe fintech community has not been taken advantage of yet. Hundreds of thousands of businesses need cash, and delivering that is not a trivial exercise.\u201d<\/p>\n\n\n\n

Part of their concern is that the 40 lenders listed<\/a> on the British Business Bank\u2019s<\/a> Enterprise Finance Guarantee scheme don\u2019t have the reach to serve all the UK SMEs in need.<\/p>\nhttps:\/\/www.altfi.com\/article\/6327_covid-19-fintech-watch-fintechs-warn-government-sme-loans-will-fail-more-us-bank-branches-close-bank-of-england-cancels-stress-test<\/a><\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Fintechs warn the government’s SME loan scheme will fail. Announced just days ago by Chancellor Rishi Sunak, members of the fintech community including Tide and Iwoca are already urging a rethink. \u201cI have written to the government today to outline that the Coronavirus Business Interruption Loan Scheme, accessible via the British Business Bank, has a worrying lack of reach,\u201d said Tide CEO Oliver Prill. In The […]<\/p>\n","protected":false},"author":2,"featured_media":1968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[37],"tags":[36,23,45,38,24],"class_list":["post-1982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-financing","tag-loans","tag-sme-loan-india","tag-sme-loans","tag-sme-sectors"],"_links":{"self":[{"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/posts\/1982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/comments?post=1982"}],"version-history":[{"count":1,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/posts\/1982\/revisions"}],"predecessor-version":[{"id":1983,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/posts\/1982\/revisions\/1983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/media\/1968"}],"wp:attachment":[{"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/media?parent=1982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/categories?post=1982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smeloans.com\/index.php\/wp-json\/wp\/v2\/tags?post=1982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}