Small firms reluctant to apply for loans
5th May 2010
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A recent poll by the Federation of Small Businesses has shown that small firms in Bolton are becoming increasingly reluctant to apply for loans and credit.


In a survey of more than 1,400 members of the FSB, it was shown that only 18% of them had applied for new credit recently, indicating many were reluctant to do so due to more stringent rules following the credit crunch and the fear of being turned down by the bank.


All three major political parties vying for election tomorrow have outlined that they aim to stimulate the banks to begin lending to businesses again as a key priority to economic growth out of the recession.


The ability for businesses within Bolton and across the UK to obtain credit and loans is seen as key to them being able to sustain their current development and fuel the economy in the future.

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