Small Businesses: Finance
(asked on 30th June 2015) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps his Department is taking in response to the outcome of the Government's consultation on matching SMEs rejected for finance with alternative lenders.
This question was answered on 6th July 2015
The Government took powers in the Small Business, Enterprise and Employment Act 2015 to require the UK’s major banks to offer SMEs they reject for finance the opportunity to be referred to Finance Platforms that can help match them with alternative finance providers.
The Government will lay Secondary Legislation implementing the policy before Parliament as soon as is practicable.