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Lenders take loan fee on the chin

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An update to the state aid framework for coronavirus-related support schemes published by the European Commission last week has meant banks are supposed to pay fees to the government when providing state-backed loans to small businesses. Small businesses can apply for loans of up to £5m from about 40 lenders, interest free for 12 months. Lenders have agreed to pay the fees instead of passing the charge on to businesses.

 

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