Submitted on Tuesday 14th April 2020
Rejected on Tuesday 16th June 2020
Current status: Rejected
Rejection code: no-action (see below for details)
The government needs to address how UK banks are interpreting the CBILS scheme.
The CBILS scheme was setup to support small to medium size businesses in the UK who have been affected by the COVID-19 crisis.
The banks have imposed criteria that is near impossible to meet resulting in only 1.4% of applications (at time of creating this petition) to be granted.
The government bailed UK banks out using taxpayers money in the financial crisis of 2008. The banks should be more flexible in terms of their required criteria - especially when there is little risk as the government guarantees 80%. When applications have been successful, they have been hit with high interest rates, above the current UK interest rate. As taxpayers, we bailed the likes of Natwest and RBS during the crash. In our time of need, the banks are refusing us and are not stepping up.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We understand that you want the Government to make changes to the way the Coronavirus Business Interruption Loan Scheme operates, but it's not clear exactly what changes you want the Government to make to eligibility or the way this scheme is being delivered.
You could start a new petition stating exactly what changes you want the Government to make to this scheme, including new requirements for the lenders delivering it.
We have published a number of petitions calling on the Government to provide financial support to individuals and businesses during the pandemic, which you might like to sign. You can view all open petitions relating to coronavirus here: petition.parliament.uk/petitions?state=open&topic=covid-19
You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
www.nhs.uk/conditions/coronavirus-covid-19/
The Government has also created an online service to help you find out what you can do if you’re struggling because of coronavirus: www.gov.uk/find-coronavirus-support
You can read NHS tips to help if you are worried about coronavirus here: www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You can read impartial analysis of the Government response to coronavirus and policy developments here: commonslibrary.parliament.uk/coronavirus/
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more: committees.parliament.uk/work/192/the-governments-response-to-coronavirus/
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