When it comes to offering credit to businesses – especially small business bank accounts – the UK has been circling the drain in the years following Lehman Brothers’ collapse in 2008, new research recently found.
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Small business bank accounts not getting enough business loans
According to new data recently unveiled by the Bank of England, small business bank accounts are still not getting the business loans they need, even though High Street banks have agreed to do so under the Government’s ‘Project Merlin’ scheme.
BoE: Project Merlin business loan targets for 2011 on track
According to recent figures released by the Bank of England, Project Merlin business loan targets are on track for the year after in excess of £20 billion filled small business bank accounts this past quarter.
FSB: Small business bank accounts need help to get finance
The Federation of Small Businesses have recently said that small business bank accounts need aid from the Independent Commission on Banking to gain better access to venture capital.
Small business bank accounts face soaring debt levels
Small business bank accounts have been facing soaring debt levels arising on late payments on business loans, one research study has recently found.
Savings account rates at two-year high despite low base rate
New research has revealed that the interest rates on savings products in the UK now stand at a two-year high despite the historically low 0.5 per cent base rate set by the Bank of England.
Business loan providers tap European Investment Bank
Two major providers of business loans in the UK have decided to tap the European Investment bank in order to increase the amount of funds they can provide to small business bank accounts.
BBA says business loan rates have declined in Jan & Feb
The leading UK trade association for the financial services and banking sector recently stated that new figures show the number of business loans has declined over the course of January and February of 2011.
Banks admit to pushing small business bank accounts
Financial services providers have recently admitted to pushing small business bank accounts to buy more expensive alternatives to business loans as lending rates fell by 3 per cent in February.
Alternative business loan provider expanding soon
One alternative small business loan provider has recently announced it will be able to expand after securing enough venture capital.
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