High-street banks are hitting small firms with a raft of new charges for borrowing money, say small-business organisations. They are also pushing companies to convert their overdrafts into loans that have higher interest charges and more stringent repayment terms.
Banks are finally starting to lend again, but small and medium enterprises are furious at what they regard as a blatant attempt to squeeze yet more money out of them at a time when many are struggling to stay afloat.
(By Rachel Bridge)
Read more: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6823244.ece
Source: TimesOnLine
www.ukba.co.uk
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