Backbenchers want Banks to lend more to small businesses

[lizbarclaybiz]

Have you tried to find money to fund your business? If so did you need working capital or money to invest for growth.
If the banks are persuaded by Government to lend more to small businesses that could be positive but only if businesses get the right typr of funding for the stage their business is at. Just getting a loan isn't the answer if the business will have problems, or get into deeped problems, trying to repay that loan or if it comes with the worn strings attached. I know of businesses where lending was dependent on personal guarantees and those guarantees were called on when the repayments fell behind. I know of businesses that got loans but weren't able to grow the business and ended up worse off trying to create enough income to service the loans. We need support for businesses to make sure they are ready for the funding, are looking for the best kind of funding for the stage their business is at and have the right support to make sure they are using the funding in the right way. It's about more than just money. Please let me know your experience.