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Business lending 'needs to increase' to help company debt help customers

Date Added: 01/11/2010  

Banks have been told that they need to increase the amount of money they lend to firms such as those in need of company debt help.

Writing for the Daily Mail, William Rees-Mogg argued that 2010 could prove to be a good year for growth if business lending increases.

He pointed out that many bosses at smaller firms, which could include company debt help customers, are worried about the lack of available finance.

"Some banks are still preoccupied with their own balance sheets, but others are inviting small businesses to apply for loans," he said.

The financial journalist added that banks need to go back to relationship banking in order to make life easier for customers such as firms taking company debt help.

Richard Perks, director of retail research at Mintel, recently stated that 2010 does not look like it will have been a good year for retailers as consumers are spending less money.

This means more businesses may have to take company debt help in the near future.

Posted by Michael Beam 

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