4R Blog

RSS Feed

2010 business lending improvement 'was short-lived'

Date Added: 15/03/2011  

An improvement in the amount of money being made available by banks for business lending at the end of last year has been described as "short-lived".

According to a survey published by the manufacturers union EEF, the cost of credit is moving in the wrong direction.

EEF chief economist Lee Hopley stated that while the availability of business lending appears to have eased, it is still difficult for companies to secure the cash they need.

"There appears to remain a gap between the aspirations of Project Merlin and the reality on the ground," he said.

Mr Hopley added that the lack of business lending is still remaining a problem and will act as a barrier for the coalition government's plans for growing the UK's economy over the coming years.

Philip Monks, chief executive officer at new British bank Aldermore, recently claimed that during 2010, its business lending to small to medium-sized enterprises rose significantly.

Posted by Julie Cutts 

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback