The Business Bulletin
My bank won’t finance my business – now what? Bank bashing has become a national pastime since the financial crash of 2008. The sight of bankers receiving a taxpayer bailout while continuing to pay themselves bonuses, plus the public scapegoating of the likes of Fred Goodwin made these institutions public enemy number one.
Even now, over a decade on, I hear
with restrictions being harder and
if they have turned you down, leaving
daily complaints about the major High
more expectations of clients when
you wondering what to do next.
Street banks with the most common
it comes to providing personal or
complaint being (certainly before
business security and deposits.
the COVID crisis anyway) that they have either declined some business lending or, if they haven’t declined it, that the terms and conditions offered are so onerous that they might as well have declined it. It is unquestionable that the risk appetite of banks has
This article hasn’t been written to
In truth, this would be a useful guide to read even before approaching your own bank for a
discuss the merits of dealing with a
request as they are not always the
High Street bank and the pros and
best option for you.
cons of this. It is rather about what to do if you have been to your own bank for a lending request and what to do
changed dramatically since the crash,
James Blacklaws JB Commercial Finance James, an ex-banker, is a highly experienced and fully Independent Commercial Finance broker, authorised and regulated by the FCA. With whole-ofmarket access. He specialises in helping businesses declined by their banks; businesses looking to grow, survive and purchase commercial property. 07722 432128 james@jbcommercialfinance.co.uk jbcommercialfinance.co.uk
Issue 9 – Finance | 19
