Access to Finance: Reality of business lending revealed

IT is a great time for business to borrow for long term investment despite concerns that banks are reluctant to lend, according to a leading banker.

Lee Collinson, head of region for Barclays Corporate, said approval rates for loan applications had been consistent over the last two years.

While there has been a clamour for banks to do more to help business, Mr Collinson said the reality was that many businesses are paying down debt rather than taking on new loans.

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