All Guernsey banks are participating in a loan guarantee scheme
organised by the States of Guernsey to enable financial support for
businesses through the COVID-19 pandemic.
The governments of Guernsey, Jersey and the Isle of Man have
each agreed to provide schemes. A coordinated approach has been
taken between the Governments of the Crown Dependencies and the
schemes are broadly aligned.
Guarantees will be provided to the participating banks –
Barclays, HSBC, Lloyds, NatWest and RBSI are all involved in
Guernsey – of 80% of lending, providing in aggregate
£140 million of new lending across the Crown Dependencies.
The schemes are designed to provide increased access to liquidity
for viable businesses that may suffer solvency issues as a result
of the COVID-19 pandemic.
