"Small and medium enterprises should not be denied access to finance" - Crockart

8 July 2010

Edinburgh West MP Mike Crockart has raised the plight of businesses across Edinburgh and the country today by bringing the issue of access to finance for small and medium enterprises to the Business Secretary.

Mr Crockart, who asked Secretary of State for Business Vince Cable what steps his department was taking to improve access to finance for small businesses, raised the issue of a local Edinburgh business who was refused a loan from a bank which the Government has helped to bailout because the small local supplier they wanted to use was not on an approved list held by the bank. Mike will now be having a meeting with Vince Cable to discuss the ways that the Government can rectify the problem.

Commenting on the issue, Mike said:

"With businesses across the country still facing the most difficult economic climate in decades we need to ensure that the Government does all it can to offer its support.

It is particularly essential that small and medium enterprises, which lead the economic recovery, have access to finance to help them survive.

I cannot understand why a bank which has received significant help from the Government would fail to appreciate their role in supporting a small yet well-established business.

I am very pleased that the Business Secretary has agreed to meet with me to discuss this issue and I urge any business which has had similar problems to please get in touch with me so that I can raise these problems with him."