Small businesses feel squeeze from banks

Small businesses feel squeeze from banks - Small businesses...

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Unformatted text preview: Small businesses feel squeeze from banks By Sharlene Goff, Patrick Jenkins and Jonathan Moules in London Published: October 9 2009 22:34 | Last updated: October 9 2009 22:34 Like many small business owners, Steve Kaczmarek is vigilant with his banking. The property developer says he has never missed a beat with his lender, NatWest. Even so, this has not stopped the bank sharply increasing the costs of his borrowing. Before the downturn, Mr Kaczmarek paid 2.5 percentage points above base rate and a 1 per cent fee. But on his latest application for a 100,000 loan, the fee was 3.5 per cent and the rate 4 points above the base rate. EDITORS CHOICE Late-payment law backfires on small business- Sep-03 Minnows prove upbeat on staffing- Aug-09 Marshall sales slide- Jul-04 Cosalt plans 20m share placing- Jul-04 Cybit to pay maiden dividend- Jul-04 Aim resources groups remain at risk - May-24 They are saying they are offering this money but the hoops you have to jump through are ridiculous, he...
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Small businesses feel squeeze from banks - Small businesses...

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