Apparently the banks have not been very forthcoming with this support and passing on the government guarantee, is this true?

This was the case, however, the government passed new legislation over a week ago to force banks into offering these schemes and passing on the guarantee, whereas prior to this Directors were being asked for personal guarantees. This is not to say they won’t ask for guarantees for the additional 20% not backed by the government (they will only back 80%) but this may make this option more attractive to businesses feeling the effects of COVID-19.

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