logo

The ASC Blog

The Banks say they are willing to lend. Do you believe them?

Published 04/02/2014 11:24:28

At the end of January, I read that the British Bankers’ Association said that banks were now willing to lend more to small businesses. BBA boss Anthony Browne claimed that the "banks are open for business."

This would appear to be good news to small businesses and entrepreneurs, and seems to suggest that things might be starting to look brighter for those who wanted finance for their business, but were previously unable to get it through their banks.

But then I read a bit further, and there didn’t appear to be much substance to this claim. In fact, it was just the launch of a year-long marketing campaign, which aims to raise the confidence about bank lending to small businesses. The BBA claimed that only 37% (yes, you read that correctly!) of small businesses, actually believe that they will get approval from a bank when they apply.

Well, we think that there are many reasons why this number is so low. And we don’t think a marketing campaign is going to solve it.

Small businesses aren’t going to the banks because they don’t get treated as they should be. We have arranged finance for many small businesses and entrepreneurs, who are excellent candidates for finance, but have been turned down by the banks on a technicality, or have had nobody with whom to discuss their finance requirements. If the banks want to get small businesses on board, they need more than a marketing campaign – they need to know their customers better. Small businesses are not form-filling robots – they are run by human beings who are dedicated to make their business contribute to the economy.

Back to the blog

We focus on arranging finance for your business...
so you can focus on running your business

10 reasons to
work with ASC

Why ASC?

close ✖

Why ASC?

You already know that arranging business finance can be a tricky experience.

We appreciate that your time is precious. With our extensive knowledge of business finance available in today’s SME market we can approach the lending institutions that are right for your business finance needs. You will be saved from the frustration of endless form filling, repeated conversations with numerous lenders, and save you from having to provide each different lender stacks and stacks of information.

Our job is to remove the ever increasing number of hurdles that are put in your path, by arranging business finance or commercial finance for you in a time-saving and more efficient manner.

ASC have been established for over forty years and we have experienced more recessions and ups and downs in the economy then we care to remember. Due to our clear focus on independent businesses and entrepreneurs we have developed a track record which is envied by our competitors. You will deal directly with an experienced Director who has a strong commercial background and real experience enabling him or her to find the business finance which is just right for your business.

close ✖

The Ten Reasons

We work in the way which works best for you

Call Now on
020 7616 6628

Email

Get a Quote