Isme urges banks to grant SMEs more loans

There has been a big increase in loan refusals from banks to SMEs, the body representing the sector claims.

In its latest quarterly banking survey, small firms group Isme said that 39% of companies who applied for funding in the last three months were refused credit by their banks, a rise of 5% from the previous quarter.

It said that of the 528 firms surveyed, more than half claimed banks are making it more difficult for them to access finance.