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Bounce back loans
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maxelliott
Posts: 1 Newbie
in Loans
I applied for a new business bank account last autumn and was told by the bank that they were so busy with bounce back loans that they were no longer opening new accounts.Can you confirm if the banks were paid a commission by the govt to organise bounce back loans.
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Comments
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No. They don’t get commission from the government.
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The gov't however underwrote the loans, so the banks faced no risk of loss.No free lunch, and no free laptop
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