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Banks still letting smaller companies down

Data just released from the British Bankers’ Association show that lending to private,non-financial companies reduced by £2.5 billion in June from May, the same level as seen one month earlier.

This is an even larger amount than the average £1.4 billion monthly drop seen over the previous six months; it is apparent that despite government policies and public calls to increase lending to this sector of the economy, there is still reluctance from banks to support those businesses that really need some help.

However, there are alternatives that are still available to smaller businesses; banks are not the only option. Invoice finance could be a viable solution for companies that would otherwise struggle to find the finance that they require. Without the need for additional security a bank may require, Invoice Finance can provide the necessary funding to smooth out your cash flow and provide the working capital you need to survive through these challenging times.

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XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.

 

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