Financial lending woes? Share your stories online


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The Hat

Well-Known Member
Mar 24, 2010
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Following the release of new figures, which show bank lending to businesses fell again last month, a forum dedicated to helping small companies is urging people to come forward and share their financial experiences.

The survey, conducted by the Forum of Private Businesses - which includes members across the hairdressing and beauty profession - aims to provide the Office of Fair Trading with valid concerns many small business owners have over their relationships with their banks, and the banking industry in general.

The Forum’s research manager Thomas Parry said: “Clearly, the issue of the way banks treat small firms has received an enormous amount of attention recently and sparked a lot of debate.

“One the one hand, groups like the Forum have been arguing that viable smaller firms are being unjustifiably denied credit, or offered it at an extortionate cost, by risk-averse banks which often don’t understand their needs.

“On the other hand, the banks and their industry groups have claimed that lending is down simply because demand is down and they are doing everything they can to increase the flow of finance to business. There is also a wider debate about competition between banks, with some critics arguing that smaller firms, particularly in Scotland, face a limited amount of choice in the marketplace.

The survey can be accessed here


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