FPB expert: Small businesses facing restrictive bank lending
Date posted: 25 Aug 2010
Small businesses in the UK are still having to deal with restrictive bank lending, according to one expert.
Published by Tim Hill.
Banks are still adopting a restrictive approach when offering credit to the country's smaller scale businesses, one expert has pointed out.
Large interest rates are not the only issues that firms are having to contend with at the moment, according to the Forum of Private Business (FPB) spokesperson Chris Gorman.
"Banks have been very restrictive in their lending, and when they have been giving loans it has often been at a very high interest rate with excessive demands for security," he commented.
Regardless of this situation, Mr Gorman added that the coalition government currently appears to be doing as much as it possibly can to try and boost bank lending to the UK's companies.
Business confidence seems to have fallen quite markedly in recent times, according to the latest UK Business Confidence Monitor which was published by the Institute of Chartered Accountants in England and Wales earlier this week.
Please contact Matt Meyer, head of services for businesses, for further information or call on 01223 225292
Click here to email or call on 01223 225011 or 020 7382 8011.
Chief Executive
Our team support business clients including multinationals, global brands, start-ups, leading professional partnerships and sole traders. We provide advice in relation to their people, customers, contracts, finances, products, services, IP, know how or their property.
Learn more...
