American Banks should return the favour and they have recently received by the bailout given to them by the America taxpayer by lending more money to the US small business say American President Barrack Obama will Gordon Brown make the same statement?
The President has a weekly radio and internet address to the American people, something Gordon could learn from. As in the UK, too many US businesses are struggling to find the finance they need to survive. How we know this story well here in the UK.
"These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs," Obama said "It's time for those banks to fulfil their responsibility to help ensure a wider recovery, a more secure system and more broadly shared prosperity," but will they.
However, Obama went one-step further he said that the government would "take every appropriate step to encourage them to meet those responsibilities." Quite what he meant by that we do not know but it is a hell of a lot stronger than we have heard from the UK government of late.
We UK tax payers having bailed out the UK banks you would think they would be grateful and in turn loan money to UK businesses to help them out in times of need. However, at Local-business-finance.co.uk we hear repeatedly how banks are refusing to loan the money needed to UK companies. Even strong companies with strong order books have been forced to close because banks would not cover them.
In a time when the banks may be turning their backs on small and medium sized businesses www.local-business-finance.co.uk wont we have a network of finance providers that we are part of a large group of business finance providers, with long and trusted track records. Some are brokers, some are packagers and some are principle lenders. However, there is one common feature - they all specialise in small business finance!
