british banking association

Bank Roadshows Help Small Businesses Access Finance

Business owners can find out how to make the strongest case for a loan, following the launch of a series of regional roadshows by the Business Finance Taskforce. The Better Business Finance initiative was originally announced in October 2010 by the taskforce, which is led by the British Bankers’ Association (BBA) and includes the main six high street banks. The initiative is part of its commitment to improve small businesses’ access to bank finance and advice. The first free “outreach event” took place in Sheffield this month, where local businesses took part in workshops and a panel discussion. Similar events are due to follow in all the UK’s major cities, listed on the Better Business Finance events page. BBA spokeswoman, Lesley McLeod, said that the initiative shows the banks’ support f... »

1 in 3 Small Business Bank Loan Applications Denied

One third of small-business owners who applied for a bank loan in the three months to May this year were denied, research by software provider Sage UK has revealed, suggesting that lending conditions are still tight for businesses. The Sage UK survey of 1,500 small firms carried out in May 2010, found that 34 per of those who attempted to borrow money from their bank had their application turned down. The results echo figures produced by the Bank of England its latest Credit Conditions Survey, which showed that the amount of credit made available to small businesses in the three months to June “increased by less than expected”. However, the British Banking Association (BBA) stressed that high street banks “were open for business” and said that lending levels had rem... »