A few SME’s are claiming that they were ‘mis-sold’ loans using the EFG scheme. Isn’t this what happens when Government attempts to ‘disrupt’ the bank lending disciplines? I was once the ‘custodian’ for a lenders involvement with SFLGS – which involved ‘policing’ its use and liaising with (what was) the Dti. Their focus was to Read more about Why the issues about EFG/SFLGS loan schemes?[…]
The FCA have reported that of 18,700 businesses invited to have their cases reviewed, a total of 3,700 (20%) have not yet replied. There is a deadline on this for cases to be included. Both the banks and the FCA are puzzled as to why a business wouldn’t ask for their case to be reviewed. Read more about What all SWAP holders should know about the banks review exercise[…]
The businesses that took out SWAP’s (and that meet the agreed criteria for the FCA initiated review) are now getting their formal letters to say that their case is to be reviewed. This explains the process and invites the business to share any information or comments that they have about the sale and the product and Read more about SWAP review meetings[…]
New Bank of England figures show net lending has fallen by the highest amount since December – despite a more positive mood amongst SME’s and things picking up. A Bibby’s survey also shows that one in five businesses have been declined bank lending in the last 6 months. This raises concerns about how SME’s will Read more about SME Funding – dealing with growth[…]