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Lenders urged to review risk criteria for company debt advice customers

Date Added: 28/02/2011  

The Forum of Private Business has called on the UK's banks to review their risk criteria and begin lending to businesses such as those taking company debt advice.

According to the chief executive of the body Phil Orford, business owners are asking friends and family for financial help as they are not getting the support they require for their organisation from banks.

"Banks must now back business owners' efforts to proactively establish their creditworthiness by providing reliable, up-to-date financial information," he said.

Mr Orford added that lenders have been calling for this to happen for a long time so it is now that they need to hold up their own end of the bargain and start lending to company debt advice customers again.

Earlier in the month, the forum launched its Get Britain Trading Campaign, which it hopes will show the country's firms the benefits of exporting goods and services to overseas customers.

Posted by Miles Pritchard 

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