Downing Street Says » Small Business Finance Forum

Asked if it was reasonable for banks to charge 20.99% interest for business loans taken out by companies that had been operating for many years in the North East, the PMS said that we wanted to ensure that small businesses got a fair deal from banks, and that was why we had been talking to the banks and why issues such as those raised in the question were the sorts of issues that Lord Mandelson and the Chancellor would continue to raise with the banks. We had seen some good progress over the weekend, such as the announcements from HSBC about both small lending and mortgage lending. HSBC had said this morning that they would increase their lending over and above 2007/08 levels. There had been some progress, but there was more to do.

Asked if there was anything specific Government was hoping to get out of today s meeting, the PMS said that this was the latest in a regular series of meetings that the Secretary of State for Business and the Chancellor would be having.

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» Monday, December 8, 2008

Small Business Finance Forum

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