Resellers have hit out at banks after it emerged that almost a third of small UK firms are continuing to see the cost of borrowing increase.
A poll of more than 5,000 members of the Federation of Small Businesses (FSB) found that 30 per cent of small firms have seen the cost of bank facilities rise in the past two months.
FSB national chairman John Wright said: “Despite the government’s £500bn bailout, the banks still do not seem to be lending to small businesses.”
John Carter, managing director of DMSL, said his bank is raising the cost of the distributor’s facility next year.
“We have all given the banks a lot of money to help them out, but we are not seeing this filtering through,” he said.
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