Greensill given access to Covid loans without detailed checks, watchdog reveals

Greensill given access to Covid loans without detailed checks, watchdog reveals

Greensill given access to Covid loans without detailed checks, watchdog reveals

The Guardian says the collapsed finance firm Greensill Capital was given access to a government-backed loan scheme without being subjected to detailed checks, leaving UK taxpayers facing a £335m loss, Whitehall’s spending watchdog has found.

The National Audit Office said the government-owned British Business Bank [BBB] carried out limited due diligence on the firm’s application before giving permission to access the Coronavirus Large Business Interruption Loans Scheme (CLBILS).


https://www.theguardian.com/business/2021/jul/07/greensill-given-access-to-covid-loans-without-detailed-checks-watchdog-reveals

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