VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Businesses will be able to apply for loans of up to £50,000 from Monday in a scheme backed by the Treasury. The new scheme, dubbed bounce back loans, will offer smaller amounts than the existing Coronavirus Business Interruption Loan Scheme (CBILS). But the Treasury says they will be quicker and easier to apply for and will have a 2.5% interest rate. The form will be seven questions long and the loan is 100% guaranteed by the government. The CBILS provide loans of up to £5m for companies with a turnover of less than £45m. The CBIL scheme loans have come in for criticism by some businesses, especially smaller ones. Banks can often apply their usual lending criteria, which makes it harder for smaller enterprises to qualify while locked down.Banks have been criticized for delays in handing out loans but have blamed the heavy workload, the need to complete the necessary credit checks and a shortage of staff. The government insists these new loans will be easier to apply for//bbc