News Article - 24 May 2012
Category:

Loans for small and medium enterprises (SMEs) - which may be sought to allow firms to control costs - need to be publicised more effectively, one sector commentator has claimed.

A spokesperson for the Federation of Small Businesses (FSB) explained that this would inform SMEs of what was out there and what they were entitled to financially.

She was commenting on a recent statement from the British Bankers' Association, which revealed that £40 million of business loans have been offered by banks under the Enterprise Finance Guarantee scheme, which it claimed proved that banks are keen to lend to viable small businesses.

The FSB representative noted: "We have heard from some of our members that banks have either not known about, or [not] made this service available to businesses."

Meanwhile, a survey carried out for the Finance and Leasing Association by the Open University Business School recently revealed that 45 per cent of the companies polled had not taken out a loan of this type.

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