After recently announcing the go ahead of a government and privately funded Business Bank to provide small and medium sized businesses with a greater access to finance, Vince Cable has highlighted another route to finance for these businesses.
At a recent conference Mr Cable showed the Community Development Finance Association (CDFA) that the Government is supporting their members with an injection of £60m.
We always watch these announcements with a cautious eye; because we have seen so many schemes created that go on to fail because the lending conditions aren’t in the interest of the business. In addition these scheme always suffer from a tsunami of administration which puts most business people off.
We have been sourcing finance for small businesses successfully for over 40 years so we know a thing or two about securing the right finance for a business.
In the mean time we will continue doing what we do best.
Feel free to let us know what you think by commenting on our blog.