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Loan charges: Banks tighten lending criteria

Banks are due to make their lending criteria tougher than it has been in the past few years.

That is according to John De Groot, chairman at Success Strategy, a company that aims to improve the results of a business's strategic planning by implementing classical strategy and codes.

Mr Groot claims that evidence suggests banks, in general, are applying tougher criteria.

He said: "This in itself may be interpreted as them being too much of a risk. However, banks have traditionally competed over time to be the most favourable bank for start-ups and the accolade has oscillated between the banks.

"I would suggest that this is a marketing issue rather than an aggravated risk issue."

Mr Groot's comments follow a commitment made by the UK's biggest banks to the government.

The banks have stated a capacity and willingness to make available £190 billion of new credit to business in 2011, up from £179 billion actual lending in 2010.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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