A recent survey of businesses carried out by the Institute of Chartered Accountants in England and Wales has found that, in general, the availability of finance for business from banks and other providers of external finance has eased slightly but is still difficult. The proportion of borrowers that were able to renew their existing bank facilities has remained static.
However, the easing has come at a cost, the report noting that ‘there is still a significant proportion of businesses this year whose costs have gone up when they renewed their facility’.
In addition, for businesses in the property sector, 30 per cent reported that their borrowing terms were made more stringent.
Click here for tips on borrowing for businesses.
01634 811118
Borrowing Eases But Terms Toughen
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
Ask a free legal question
Complete this simple form if you
would like to ask us a
free legal question
What Our Clients Say
We would like to thank you for the superb work and attention to detail that has gone into our dispute with the council so far!
Our Architect put together a very professional document which was further enhanced and polished by your very professional input.
You are in fact unique in my personal experience of the legal profession in that you take your duty of care very seriously. It is obvious that the outcome concerns you greatly and your determination to win is much appreciated!
Thank you from us both.
Best Regards
Mr and Mrs X, Surrey