Labour would seek to establish a network of regional banks if elected, to help small business get access to finance, Ed Miliband has said. Continue reading
Archives for March 2013
Month: March 2013
Charity trustees need help with social investment, says Charity Commission report
Charity trustees need more support and information to become involved in social investment, according to a report written for the Charity commission. Continue reading
CDFIs help Start-Up Loans exceed expectations
2,000 young entrepreneurs have now had their business dreams backed through the Start-Up Loans programme, and community finance providers are playing a key role. The Start-Up Loans Company, which administers the scheme and is chaired by Dragon’s Den entrepreneur James Caan, has helped to start 1,000 new businesses in the last month alone.
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Payday lenders given 12 weeks to change their ways
The OFT has found widespread evidence of irresponsible lending and breaches of the law across the payday sector. The damning report, which follows a year long review of the £2bn sector, said too many people were being granted loans they could not afford to repay, and lenders’ revenues were heavily reliant on customers failing to repay their original loan in full and on time. Continue reading
Banks are making fewer loans, in spite of Funding for Lending
The Bank of England has announced that net lending fell by £2.4bn in the final quarter of 2012 compared with the previous three months.
The Funding for Lending (FLS) scheme, which began in August last year, was designed to encourage banks to lend more money, both to individuals and businesses, and boost the economy.
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