SME finance at three-year low

Freelance journalist
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The amount of small businesses using external finance is at its lowest level in three years, a survey suggests. And although seven in ten businesses applying for an overdraft or bank loan are accepted there is a “perception” that they’ll be turned down.

Thirty-nine per cent of the 5,000 Small and Medium-sized businesses questioned had used external finance in the first quarter of this year – the lowest level since the quarterly SME Finance Monitor began in early 2010, and down from 50% in the same period last year.

Many small businesses are unduly ...

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70% - no way
I'd like to see the stats on how many businesses are discouraged from applying by their bank managers before they get to application stage, or what the bank define as an application - I think the stats might be very different.

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