FPB: Restore Trust in Banks & Boost Alternative Funders
The Forum of Private Business is responding to the release of the first quarterly finance monitor commissioned by the British Bankers’ Association’s (BBA’s) Business Finance taskforce. The not-for-profit Forum is calling for measures to restore trust in banks and help alternative funding platforms compete in finance markets dominated by mainstream lenders, following figures suggesting confidence and trust in these is in decline. According to the report, published today, a total of 15% of SMEs – or approximately 670,000 firms – needed funding during the past year but did not apply for it. Even more – almost one in five small businesses (18%) – believe they will need finance in the next three months but feel they will be unable to apply for it unless... »