BBA pledges to support small businesses - commercial mortgages

24 October 2008

The British Bankers' Association (BBA) has vowed to support small businesses through the current economic uncertainty.

In a statement that could be encouraging news for those with commercial mortgages, the BBA revealed that it was writing to MPs on the behalf of high street banks to outline steps that are being taken to help small enterprises avoid going under.

Chief executive Angela Knight said that maintaining a good relationship with a lender could help firms to get through a potential recession.

"The businesses that will succeed through this downturn are those currently reviewing their business plans and engaging with their banks to prepare for a slump," she commented.

BBA members, which have always been a "strong supporter" of the sector, will remain committed to aiding small outfits through the credit crunch, she added.

Meanwhile, new repossession rules introduced by the government in order to better protect people from losing their properties have been welcomed by the Trades Union Council.