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Banks have 'no excuses' to not lend to small firms
The Federation of Small Businesses (FSB) have stated that banks have ‘no excuses' to not lend to small firms, following the announcement of the governments new £1.3bn fund.
The FSB hope that The Enterprise Finance Guarantee, which was unveiled today, will ensure that banks increase lending to small companies to provide much needed cash-flow.
Recent figures released by UK banks revealed that small businesses overdrafts were reduced by £100 million during October and November last year.
"The onus is now on bank branch managers to actively promote this money to its small business customers to ensure their survival and the revival of the economy," said FSB chairman John Wright.
Post Date: January 14th, 2009
The FSB hope that The Enterprise Finance Guarantee, which was unveiled today, will ensure that banks increase lending to small companies to provide much needed cash-flow.
Recent figures released by UK banks revealed that small businesses overdrafts were reduced by £100 million during October and November last year.
"The onus is now on bank branch managers to actively promote this money to its small business customers to ensure their survival and the revival of the economy," said FSB chairman John Wright.
Post Date: January 14th, 2009
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