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......as fears of new mis-selling scandal rise
Fears are rising of a new bank mis-selling scandal, with hundreds of small businesses owners signing up to loans under a Government-backed scheme wrongly believing it protects them against losses if their company fails. The worries centre on the Enterprise Finance Guarantee scheme, which has been used by more than 20,000 firms taking out £2.1billion since it was launched five years ago.Under the scheme, banks are encouraged to extend loans to small firms, with the Government guaranteeing to cover up to 75 per cent of any losses should the company be unable to repay.....Read more here
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