Over half of SME loan applications still refused

Demand for bank finance for SMEs remains steady but 52 per cent of companies who made an application to their banks in the last three months were refused, according to an ISME survey.

12th December, 2011

Demand for bank finance for SMEs remains steady however the level of actual refusals continues at a high 52 per cent of companies who made an application to their banks in the last three months, according to the latest ISME Quarterly Bank Watch Survey.

“It is obvious that the Government’s instructions to the bailed out banks to increase access to finance for viable SMEs is being ignored,” said ISME chief executive, Mark Fielding....

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