Get involved: send your pictures, video, news and views by texting BWT to 80360 or you can email us »
Witham: Banks still not passing on funds, claims businessman
3:00pm Saturday 25th May 2013 in News
A businessman who claims he was denied a loan by a Witham bank fears the Government’s Funding For Lending Scheme is still not helping those intended.
Staff at Barclays in Newland Street allegedly rejected Ian and Lynn Anderson’s request for a £50,000 loan as part of the scheme before even listening to their case.
Last month, the Funding For Lending Scheme was extended to 2015 and lenders offered extra incentives to back small and medium-sized businesses in an attempt to boost the ailing economy.
But the Andersons, who own and run Anderson Moffat International - an importing firm based at Little Braxted Hall - are concerned banks are still not passing on the funds.
Barclays have dismissed Mr Anderson’s claims.
A spokesman said: “At this stage we have not rejected Mr Anderson’s request for finance and have requested more details from him as to the financial health of his company. Thus far Mr Anderson has not provided these documents.”
He added: “We want to lend, lending is what we do, however it is our obligation to lend responsibly to businesses in order to help them grow.”
Comments are closed on this article.