Firms urged to take advantage of lender support - commercial mortgages

20 April 2009

Small companies have been encouraged to take advantage of government and bank support that has been unveiled to help them survive the economic slowdown.

Employment minister Tony McNulty gave the advice at a show held in Durham bringing together businesspeople, bank officials and advisers.

It was aimed at highlighting the aid that lenders can provide to small firms, with Mr McNulty noting that such enterprises make a "vital contribution" to the economy.

"Today's meeting brings banks and businesses together to improve understanding of the pressures on business," he remarked.

The event may be of interest to those with commercial mortgages, or firms seeking new finance.

Mr McNulty went on to say that he is aware of the difficulties faced by companies, commenting that "cash flow has become tighter and access to credit has been squeezed".

It came as the Federation of Small Businesses called for a mediator to be created to act as a go-between for enterprises and banks.

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