25/05/2020 (Agence Europe) – SMEunited, which defends the interests of SMEs and the craft industry, published on Monday 25 May the results of a survey of its members showing the problematic behaviour of banks during Covid-19. According to the study, SMEunited identifies application procedures for guaranteed or subsidised loans as well as high interest rates and fees as the main problems SMEs face when trying to obtain a loan. “The majority of complaints from SMEs are related to how banks implement these support measures”, explains SMEunited, which notes a high rejection rate for loan applications and excessive interest rates. The organisation indicates that some banks are exploiting the flexibilities provided by the European Central Bank and the European Banking Authority “not for the benefit of their customers, but to fine-tune their own balance sheets”. (PH)