ISME: Banks refuse loan requests to 55% of firms

ISME's Bank Watch Survey has revealed that more than of loan and overdraft requests have been refused in the three months to end of February.

The results of the survey, which attracted almost 800 responses, show that 55% of companies who applied for funding in the last three months were refused credit by their banks, in comparison to 42% in October 2009 and 20% in May 2008, Bank Watch Surveys.