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chippendale C

1 reviews | Active since Jun 2016

10 Jun 2020, 09:29

Nedbank not adhering to covid loan scheme procedures for small business

My business has been declined assistance for the covid 19 loan scheme as guarentee by government via the banks. My application has been declined due to financial statements not being to a standard that nedbank requires. The entire process is still handled as normal loan procedure which goes against what the scheme should actually be doing. This is to assist small businesses with funding but with relaxed application criteria. My business was doing very well prior to the lockdown thus can be seen in my business account transactions. I am doing my own books to keeps costs down and it's fairly simple to do it as it a small sized business. Yet I am penalized for trying to save costs. This type of blatant disregard for small business not even going the extra mile for them during this time is not acceptable. This type of behaviour will crush small business even though have government has guaranteed the loans yet the still apply red tape to prevent small business from accessing those funds.

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