Submitted on Thursday 23rd April 2020
Rejected on Friday 3rd July 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Charge banks a fine for each late CBILS decision.
The government to apply a fine of say £100 (amount flexible) for each working day over the bank's defined timeline. The amounts raised would be the banking community generous gesture to create a Business Support fund to help businesses that may struggle to repay the loans.
As with late loan payments a charge is applied, the banks rarely care about the reasons for lateness. The banks need motivation to move money. It is not that they cannot because they can offer loans within days but these are their own products of less than £5000 not the CBILS. Eg. majority tax payer owned NatWest state ten working days for a decision, but this doesn't happen. People have been waiting for over 20 working days now which is totally unacceptable and is going to destroy businesses.
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:
The Government has created the Coronavirus Business Interruption Loan Scheme, but the process for granting loans under this scheme is a matter for individual lenders, and not the Government or House of Commons, and the Government does not have any powers to fine banks for delays in making decisions.
You could start a petition calling for the Government to stop banks from providing loans under this scheme if they fail to meet certain conditions, such as making decisions within a certain timeframe.
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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