|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
09th of August 2011
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Survey finds credit availability has not improved

Bookmark and Share

by Kay Mitchell

A survey by the EEF engineering group has discovered that British companies are still struggling to obtain credit.

According to the manufacturers’ organisation, credit is more expensive today than two months ago.

The claim comes despite calls from the Government and business leaders to increase lending to businesses.

Commenting on its report, Lee Hopley, the chief economist of the EEF, said: “The recession and the crisis in financial markets have worsened the costs and conditions attached to accessing finance and the credit markets for many businesses, and despite the pick-up in the economy, few companies are seeing a significant improvement in lending conditions.

“This was never likely to be a swift or easy process, but we are concerned that the rise in the cost of new borrowing may be signalling that the supply of finance is not able to keep up the upturn in manufacturing activity,” he added.

The EEF’s survey of more than 300 companies found that over the past two months, the overall cost of credit for manufacturers was almost unchanged.

During the two-month period, 31% of companies reported an increase in the overall cost of credit versus 34% previously.

It added that the cost of new borrowing rose for 37% of companies, up from 32% in the previous survey.

Discuss this in the Finance Markets forums

Story link: Survey finds credit availability has not improved

News posted: September 20, 2010

Financial Services:

Related financial stories to: Survey finds credit availability has not improved:
Previous: «
Next: »

Visited 5745 times, 9 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , ,


Banking News feed Banking News

Economy News feed Economy News

Loan News feed Loan News

All Financial News feed All Financial News