At Last, Banks Start Business Cash Flow; Mail Campaign Pays off with Rise in Loans to Kick-Start Economy

Daily Mail (London), June 22, 2012 | Go to article overview

At Last, Banks Start Business Cash Flow; Mail Campaign Pays off with Rise in Loans to Kick-Start Economy


Byline: Alan Roden and Michael Blackley

BANKS have finally started to lend money to Scotland's businesses in a bid to kick-start the economic recovery.

New figures show that 87 per cent of small and mediumsized firms have been able to access all the money they asked for this year, up from 79 per cent in 2010.

The move comes after massive pressure was placed on the banks by a campaign, led by the Scottish Daily Mail, to 'make the banks lend'. The campaign has won the support of First Minister Alex Salmond and business leaders.

Finance Secretary John Swinney last night welcomed the boost for the 'lifeblood of the Scottish economy'.

Scottish Conservative finance spokesman Gavin Brown said: 'I welcome any increase like this which helps get the country going. The national loan guarantee scheme has helped small businesses access cash they may not have been able to before. But there is more to be done and this claim that 87 per cent of businesses are getting what they want is not something I have been hearing on the ground.

'The Scottish Daily Mail's campaign has been an important driver behind this change.'

The new Scottish Government figures show that, over the last year, nine per cent of firms applied for new lending and 32 per cent wanted to renew existing facilities.

The results point to a decrease in the number of companies that were rejected by banks. However, the proportion of firms which secured none of the finance sought also increased marginally.

Mr Swinney said: 'Small and medium sized businesses (SMEs) are the lifeblood of the Scottish economy. Collectively they employ over one million people and account for around 54 per cent of total employees in Scotland's private sector.

'Any evidence of increased lending to SMEs is good news for our economy and will be a key element in building a sustained recovery. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

At Last, Banks Start Business Cash Flow; Mail Campaign Pays off with Rise in Loans to Kick-Start Economy
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.