In fact, virtually none of these financially prudent, project-lending techniques were incorporated into the Caterpillar deal.
So the so-called Project Merlin lending figures, due to be published next month, will be scrutinised, to see whether Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander have lent to business what they promised the Treasury they would lend.
Two government-backed schemes, Project Merlin and Funding for Lending (FLS) have apparently had little effect on business lending so far.
Mr. MICHAEL CALHOUN (President, Center for Responsible Lending): We project that one of out five homeowners with these subprime loans will end up losing their houses.
"We believe that the government will react to this weaker-than-expected GDP growth rate by introducing more policy measures to boost lending, speed up project starts, encourage consumption, and support property sales, " Jun Ma, Deutsche Bank greater China chief economist said.
So why is SME lending a bit behind the schedule outlined in Project Merlin?
Now RBS has failed to hit the so-called "stretch" targets for lending to small businesses, agreed with the Treasury in Project Merlin, by a modest margin.
Low cost lending can substantially reduce the cost of a clean energy project, making it cost competitive with fossil fuel generation or close to cost competitive and thus requiring much lower subsidies.
Project Merlin creates an image of a wizzardly solution to the lack of bank lending.
It would have been embarrassing for Barclays if it were lending less to businesses than it promised the government it would do under Project Merlin, because that agreement between the big banks and the Treasury was its idea (or, more precisely, that of its previous chief executive, John Varley).
Similar to peer-to-peer financing site Lending Club, Mosaic puts the burden on investors to assess the risks in project prospectuses.
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