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Commercial Property News
Banks 'must work with business property owners'
Small business owners looking to finance their investment property purchase may benefit from a better relationship with their bank.
Andrew Cave, head of policy at the Federation of Small Business, explains there needs to be a certain level of trust between the borrower and lender so the business feels confident to get contracts.
He states: "Instead of banging on to the banks about access to finance, what we need them to do is return to that older model of actually helping and working with small businesses."
Mr Cave's comments follow an announcement from the British Bankers Association (BBA), setting out proposals to examine why the country's banks are not lending to small companies.
In a letter to Chancellor of the Exchequer George Osborne, BBA chairman Stephen Green set out ways to improve the situation.
As the country emerges from the recession, there needs to be a focus on the positive relationship between the two parties, Mr Cave suggests.
Posted by Sarah Smith
Andrew Cave, head of policy at the Federation of Small Business, explains there needs to be a certain level of trust between the borrower and lender so the business feels confident to get contracts.
He states: "Instead of banging on to the banks about access to finance, what we need them to do is return to that older model of actually helping and working with small businesses."
Mr Cave's comments follow an announcement from the British Bankers Association (BBA), setting out proposals to examine why the country's banks are not lending to small companies.
In a letter to Chancellor of the Exchequer George Osborne, BBA chairman Stephen Green set out ways to improve the situation.
As the country emerges from the recession, there needs to be a focus on the positive relationship between the two parties, Mr Cave suggests.
Posted by Sarah Smith
Mon, 16th Aug 2010