BCRS criticises Government Report on Business Lending
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- Category: Business
- Written by Assistant Editor
Black Country Reinvestment Society (BCRS) Chief Executive, Paul Kalinauckas has criticised the Government’s report on “Boosting Finance Options for Business” for failing to promote Community Development Finance Institutions (CDFIs) as an alternative source of funding.
Published on Friday 16 March by an industry-led working group chaired by Tim Breedon, Chief Executive of Legal and General, a leading provider of risk, savings and investment management products in the UK, the report makes several recommendations to improve access to business finance. These include introducing a Business Finance Advice Scheme and promoting corporate bonds, supply chain finance and new financial products such as mezzanine loan funds and peer to peer lending. It predicts that there will be a finance gap of between £26 billion and £59 billion for small businesses seeking funding over the next five years and warns of the significant risks involved in relying on bank lending as the sole source of finance. The report confirms that problems of supply and demand for bank lending will leave a significant funding shortfall and that the stock of bank lending has dropped over the last three years.
Read more: BCRS criticises Government Report on Business Lending
GIVING TAXPAYERS TIME TO PAY
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- Category: Business
- Written by Assistant Editor
HMRC PARLIAMENTARY BRIEFING - GIVING TAXPAYERS TIME TO PAY
Boast about the Black Country
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- Category: Business
- Written by Assistant Editor
Business leaders will gather to boast about the Black Country at a breakfast event on 19th October 2011 at the Molineux Stadium,
The Black Country Diners Club quarterly breakfast networking events present a unique format for a high quality networking opportunity for Black Country businesses.
SERVICE 2000 PLANS FOR EXPANSION THANKS TO WALSALL LOAN FUND
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- Category: Business
- Written by Assistant Editor
A Walsall based domestic appliance repair company has become the first business to benefit from the recently created Walsall Business Loan Fund.
Service 2000 Ltd received a loan of £30,000 from the loan fund created exclusively to help Walsall businesses that are unable to obtain finance from traditional sources. The fund was officially launched by Walsall Council in conjunction with the Black Country Reinvestment Society (BCRS) in July 2011.
Read more: SERVICE 2000 PLANS FOR EXPANSION THANKS TO WALSALL LOAN FUND
