Bank lending to small businesses

• howard mcsweeney1

  • Location: Dover
  • Registered: 12 Mar 2008
  • Posts: 62,352
  3 December 2012     18:28204392
  #1       report
  this was much heralded when it started but clearly not the success story it was expected to be.
  
  maybe some of our members will have comments based on personal experience?
  
  
  http://www.guardian.co.uk/business/2012/dec/03/funding-for-lending-scheme-500m-pounds
• Guest 655

  • Registered: 13 Mar 2008
  • Posts: 10,247
  3 December 2012     20:21204420
  #2       report
  There has to be a demand to fulfil. The fact is that a lot of businesses are not seeking to borrow but are paying back instead and/or building capital reserves. Such reserves are at a record high currently.
  
  A lack of confidence means that companies are being defensive currently. Besides, why bother to take risks on borrowed money when you could get taxed at rates of 47% (next year) 53% now or, even worse 62% as some are now and will be even next year.
• Guest 696

  • Registered: 31 Mar 2010
  • Posts: 8,115
  3 December 2012     21:27204428
  #3       report
  Don't forget that to borrow money, you either need a house, a stable minimum income, or a guarantor.
  Or they'll tell you where to get off.
  
  Either way they'll make you pull your trousers down (they'll humble you), so I just keep to a tight budget and aim for a small savings pot in the bank, which rarely exceeds the £400 mark. Bugger the economy!
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• Keith Sansum1

  • Location: london
  • Registered: 25 Aug 2010
  • Posts: 23,942
  4 December 2012     08:12204451
  #4       report
  many alexander can't even save that much
  ALL POSTS ARE MY OWN PERSONAL VIEWS