According to reports, UK's biggest five banks, recently announced that in the past three months, they have extended their plans to provide loan to UK companies.
However, all the five bank’s officials declared that the main aim behind this move was that they strongly wanted the UK’s economy to come back on the right track, as the current monetary problems extension problems, forced the government targets to become still.
In the meantime, while having a word with the BBC reporters, Andrew Cave of the Federation of Small Businesses quoted that the Country was still choked from the ravenous businesses effects which were caused in UK, and due to the current financial losses, the Country’s economy growth became motionless.
He added, "There are plenty of new entrants that want to come into the market space here and lend to small businesses”.
On the other hand, talking on the same issue, David Birne, insolvency partner at chartered accountants HW Fisher & Company, commented, "Our experience on the front line is that targets or no targets, simply not enough lending is going on and nobody expects the banks to lend to the un-bankable, but in many cases they are even turning their backs on perfectly viable businesses".
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