Bounce back loan repayments

Regulation call as SMEs begin loan repayments The first tranche of Bounce Back Loan Scheme repayments are due this week, with 1.5m small businesses set to repay £47bn. While banks have vowed to treat customers fairly, campaigners have voiced concerns that pressure to recover taxpayer cash may put lenders in a difficult position. Noting that lending to businesses is unregulated in the UK, leaving borrowers unprotected by law or the Financial Conduct Authority, Kalyeena Makortoff in the Observer says the pandemic-related debt boom is driving calls to regulate the sector. MPs on the All-Party Parliamentary Group on fair business banking are calling on ministers to introduce laws that would protect SME owners and give them leverage in a court or tribunal.