SME credit difficuties

Credit shortage for SMEs hampers 'levelling up'A report published by the All-Party Parliamentary Group has warned that a lack of trust between banks and businesses has choked the supply of credit to SMEs in the UK. The lack of finance is preventing small businesses from expanding, putting downward pressure on job creation and preventing regional inequalities from narrowing, the report, titled Scale up to level up, said. Danny Kruger MP said: “We need lenders whose interests align with those of the community as a whole…[community development finance institutions] are more flexible, don’t have blanket lending policies and can apply real human judgement to the decisions they make about lending.”City A.M.