Government To Underwrite SME Loans

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Government To Underwrite SME Loans

John Williams - Thursday 20.11.08, 10:51am

The Financial Times reports that chancellor Alistair Darling is set to introduce new measures aimed at helping small businesses secure finance during the economic downturn.

The report suggests that Darling is preparing measures that will underwrite new loans to small business and by extending tax payer guarantees to the banks that lend money to SMEs.

Increased funding for a scheme allowing SMEs to take out bank loans that carry a 75% tax payer guarantee is also expected in the announcement due next week.