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| Banks 'not lending enough to SMEs' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Friday, 22 October 2010 00:00 |
 Britain's major financial institutions must show a greater willingness to lend money to businesses such as small and medium-sized enterprises (SMEs) as these are the organisations that need most help following the recession, an expert has said.According to Michael Baxter, editor of Investment and Business News, despite the fact that the banks do not like the insinuation that they are overly reluctant to support SMEs, this widespread opinion in the fiscal sector is very much a "valid criticism". Mr Baxter was speaking following the publication of data by the Bank of England's Trends in Lending report yesterday (October 21st), which stated that although the overall cash being loaned to businesses hit positive ground in August, access to credit still remained elusive for smaller organisations. Indeed, the Bank's figures showed that the annual rate of lending to SMEs has been negative over the previous three-month period. And the expert criticised this, concluding: "If you're a business, the only time a bank is really keen to lend you money is if you don't need it." Posted by Daniel Frost 
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