Availability of Business Asset Finance

[Mike Boss]

Despite the press reporting daily that the banks aren't lending and how badly businesses are suffering because of it, the story told by our panel of lenders seems somewhat different.

One of our funders had a record month for lending in December 2008, whilst many others are telling me that they're approving a large number of facilities, but clients seem reluctant to sign on the dotted line for fear of what the future may hold. It seems almost like the press is doing it's absolute utmost to attack from all sides, doesn't it?

These last few weeks have seen countless reports of businesses going into administration and large retail chains announcing poor trading results. Yet every time there is good news (and believe me it is there!), newspaper editors like to hide it in between more "exciting" bad news. Quite the reverse to politicians releasing bad news on the same day as very positive news to soften the blow, isn't it?

So, despite what you are being told, banks and finance companies are still lending, in fact, due to the slow start of client take ups, many are offering special deal incentives to kick start their year. Funding is even available for equipment already purchased in the last few months on sale and leaseback terms.

Don't believe everything you read in the newspapers.

[peterjhale]

That's good to hear Mike. Yes the press hate good news - every time I have tried to get a survey out saying how small businesses are going from strength to strength no one wanted to know, but as soon as the results turned negative.... well, you've guessed it !

[Alternatives]

Hi,
Well here in my area of Suffolk where businesses have been doing badly for 10 years now, I am hearing daily of firms going bust, most because they took on jobs that they did'nt get paid for due to the firms they done business with have gone bust.
With todays new 4th interest rate cut this will sink yet more firms, as the people up the top in the Bank of England are trying to kill off the savers in banks, but once the savers remove the money's as they are now doing, the banks will have no money to lend anyway.
Once all the savers are gone, firms wont get short term loans, so they will go like the rest.
A businessman I know expects the jobless figure to reach 7 million by Dec 09, and about 4 million of those jobs could have been saved if Gordon Brown started thinking better before doing bad and crazy things.
Remember if banks have no money, you wont be able to borrow, it's easy really, it's called logic, and sadly in the UK that has been missing over 12 years now.
David Webb.

[tkessex]

If unemployment reaches 7m in the next eleven months I'll eat my own arm.