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Swiss lead way with crisis loans to small businesses - amazing. Banks processing interest free loans backed by government and cash showing up almost immediately.
“Switzerland unveiled its SFr20bn ($20bn) package of emergency loans to support small businesses on March 25. In its first week of operating, it disbursed more than SFr15bn to 76,034 businesses..Bern announced that it would double the facility to SFr40bn.”
_ Swiss lead way with #covid19 crisis loans to small businesses
Sam Gad Jones
The health of smaller businesses will be a - if not the - crucial factor deciding severity of the recession caused by coronavirus. Yet all over Europe, billions of promised govt support is gummed up in red tape. Switzerland is a remarkable outlier: