UK starts first stage of 330 billion pound loan guarantee scheme

LONDON (Reuters) - Britain's government opened the first part of a 330 billion pound loan guarantee scheme for businesses on Monday, which will help small and medium-sized firms borrow up to 5 million pounds to deal with coronavirus stoppages."Any viable business" with a turnover of up to 45 million pounds would be able to apply to banks for a 12-month interest-free loan, 80% of which will be guaranteed by the government, the finance ministry said."We know that businesses are in urgent need of..