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Nick Harvey MPStanding up for North Devon since 1992 |
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SMALL BUSINESSES NEED ALTERNATE SOURCES OF CREDIT
August 17, 2009 12:14 PM
Nick says: "I wholeheartedly support the Federation of Small Businesses calls for alternative sources of credit. Insolvency levels are at their highest level since 1960 and small businesses are struggling to get support from the high street banks."
"The FSB has called for new sources of finance such as post offices being given the authority to offer loans to small businesses.
"The FSB is concerned that the recapitalisation of the big banks by the Government has hampered competition and narrowed choice. Small firms are finding it tough to access financial support."
John Wright, Federation of Small Businesses, National Chairman, says:
"Despite Government bailouts and interest rates set at a record low, small firms are still finding it tough to access affordable loans and overdrafts from banks. This is compounded by the fact that much of the support provided by the Government is only available through the banks and often this isn't replicated at branch level. The FSB would like to see more alternative sources of finance provided locally such as through Regional Development Agencies, local councils or post offices."
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