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PPI: Firms claim access to bank loans is 'worse than last year'

Over a third of firms have claimed that access to bank loans has worsened over the past 12 months, according to new research.

Independent finance provider Syscap has conducted a survey which revealed 38 per cent of companies believe lending is worse than last year, while just nine per cent thought it had improved.

Philip White, Syscap chief executive, said: "This is an alarming percentage of companies who are actually saying that access to bank loans is still worsening.

"There is clearly a perception that the lending environment is still deteriorating."

The report also showed that nearly three quarters of respondents that have managed to borrow from a bank thought the lending margins on their loans was too high.

Mr White added that the study shows the government's attempts to increase the flow of lending and encourage banks to offer competitive loans to small businesses have not gone far enough.

Posted by Amir Hussain

Amir specialises in personal loans, consumer debt and debt management ADNFCR-2776-ID-800112465-ADNFCR

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