The ASC Blog
Securing Lending - it's tougher than you think!
Have you ever tried to borrow money to gain additional investment for a business? Have you tried in the last 3 or 4 years?
You may have found it a little tricky to get the high street bank manager or commercial lender to part with their cash. Unfortunately the story hasn’t changed and could start to get worse as, ‘Britain's banks have cut back on lending to small businesses in all but 22 postcode districts in the UK.’
These figures are a worry at best. It appears that the government is tightening the purse strings on Britain’s cash cow . . . small businesses. Not supplying additional investment for SMEs that make up over 95% of businesses in the UK, could turn out to be a major issue to our nations bottom-line.
Last year alone lending to SMEs was reduced by £4.5bn compared to the previous year although the amount of cash small businesses had in the bank increased by £7.2bn overall between 2011 and 2012.
But, don’t let the doom and gloom put you off! Finance can be obtained. One of our marketing messages is “Remember, business finance is still available” and we stand by that. Over the last 44 years we’ve seen recessions come and go and have always maintained that our model of arranging business or commercial finance works (if you’re in any doubt we have plenty of case studies and successful stories on our website; www.asc.co.uk).
If you’re planning a project or looking for finance to re-structure, grow or develop your business then have a chat with your local ASC Director. They’ll advise you on the best way to achieve potential for your business.
And don’t worry, they won’t charge you for a quick chat.