UK offers 100% state-backed COVID loans to smallest firms

LONDON (Reuters) - British finance minister Rishi Sunak on Monday bowed to pressure to do more to help companies survive the coronavirus shutdown and announced 100% state guarantees on loans to Britain's smallest businesses.Sunak, who previously opposed 100% government backing for emergency credit for small firms, said the government would fully back loans of up to 50,000 pounds ($62,000) to micro companies which would pay no interest for the first 12 months."I know that some small businesses..