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What’s the solution to de-banking for small businesses?
News that thousands of small business accounts were closed by banks points is concerning. Notably, it points to a wider trend among traditional lenders of retreating from this type of lending. With growth slowly returning, the timing couldn’t be worse. What can small firms do? What is behind small firm de-banking? According to figures from the Treasury Committee, more than 140,000 business accounts were closed by major banks in the last year. The committee is looking into the reasons behind the closures as part of its inquiry into whether SMEs have adequate access to financing. Banks have provided a list of reasons ... [Read More...»]
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