4R Blog

RSS Feed

FPB welcomes business lending initiative

Date Added: 28/09/2012  

The latest plan by the government to improve business lending has been welcomed by the Forum of Private Business.

It was announced earlier in the month by business minister Vince Cable that a new bank is to be set up by the coalition to boost the flow of credit to small firms.

Senior policy adviser at the forum Phil McCabe stated there is no doubt that there is a need for action to be taken to improve business lending.

"But we really need a dual focus. That is, getting more transparency in high street bank lending and improving ethics in the way banks treat their small business customers," he said.

Mr McCabe added there also needs to be more lending through alternative sources of finance, such as peer-to-peer platforms.

Danny Waters, chief executive of loan company Enterprise Finance, told BBC News that he does not believe the government's Funding for Lending Scheme is going to help small firms in need of loans.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Michael Beam

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback