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PPI Claims - About PPI

PPI Claim News - 2/2/2010

Credit Card Reclaim: Businesses forced into self-reliance as banks refuse to lend

An increasing number of businesses have been forced to become self-reliant as they fail to secure essential funding from the banks, a new report suggests.

The Voice of Small Business, an annual survey by the Federation of Small Businesses (FSB), showed that that 41 per cent of small firms are relying on personal savings to continue operations.

A large proportion of companies are also dependent on negative equity to survive, which is amounting to further debts.

Some 43 per cent used their overdrafts last year, while 21 per cent used a personal credit card.

The FSB stated: "This may be an indication of self-reliance as they encountered a banking sector which refused to lend."

It also revealed that small businesses have had a tough ride during the recession, with 52 per cent reporting fallen profits in 2009.

Many firms have had late access to government payments, which has affected their reliance on credit cards and savings.

For free advice on how to make a PPI ClaimPayment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19591986-ADNFCR

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