Third of businesses hit by bank changes on lending
A third of small firms have claimed their banks are less helpful now than before the credit crunch, according to a survey carried out by the Federation of Small Businesses (FSB).
The poll of 6,000 small businesses found that 33% of respondents said their bank had changed their lending arrangements either by increasing charges and rates, reducing overdrafts or asking for more security on loans. Professor Alistair Anderson, the FSB's professor of small business, said: "These figures demonstrate how times are really tough for small firms and how access to finance continues to be a real challenge with the majority indicating that the banks are failing to be more helpful - precisely at a time when small businesses most need their support."
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