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Deloitte comments on the Government’s additional £700 million access to lending for SMEs |
Paul Zimmerman, corporate finance partner at Deloitte comments:
“Tuesday’s announcement from HM Treasury can only be good news for small and medium sized enterprises (SMEs), the bedrock of the UK economy. The access to an additional £700 million of European Investment Bank (EIB) lending will play an important role in helping SMEs and other fast growing, entrepreneurial businesses access vital lines of cashflow.
“Throughout the recession, the prime focus for SMEs has been on strengthening the operational performance of their business to emerge as ‘winners’ from the recession and this requires investment. However over the past 18 months, they have found it difficult to access small business loans as the banks have either been too distracted or unwilling to lend. As such, SMEs have had to rely on other sources of funding, including private equity and other Government initiatives such as the Enterprise Finance Guarantee scheme. Now we are beginning to see more supportive banks and more innovative structured deals from the private equity sector to support smaller businesses.”
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