Banks launch SME aid scheme

17 May 2020 - 00:26 By HILARY JOFFE

The launch of the credit guarantee scheme this week has given banks another form of relief they can offer small and medium enterprises (SMEs) to help them survive the lockdown - but they caution it may not be the solution for all customers.

The scheme, which was finalised on Tuesday, is a partnership between the banks, the Reserve Bank and the Treasury which will initially enable the banks to advance R100bn of new loans, guaranteed by the government, to SMEs impacted by the Covid-19 crisis...

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