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Sunday, April 20, 2014
News Making Money

Barclays announces radical shake up with instant business loans

24/10/2013 11:05 (178 Day 04:43 minutes ago)

The FINANCIAL -- Barclays has become the first bank to take the unique step forward in actively supporting its business customers by ‘pre-approving’ overdraft facilities and loans which help them to make business decisions in the knowledge that funding is available if they need it, according to Barclays.



From the middle of October qualifying customers who call Barclays about new lending will be given instant approval. Customers relationship managers will be able to offer the service from November, according to Barclays.

From early next year most business customers who use online banking will be able to see how much they’ve been pre-approved to borrow and get a decision within minutes.

The new service is designed to help businesses manage cash-flow issues which are largely recognised as one of the primary reasons behind the collapse of small businesses in the UK.

“We know that cash-flow can be a big problem for growing businesses and one of the biggest headaches is winning a big pitch or order, but having no certainty on whether you can finance that growth,"
Ashok Vaswani, Chief Executive of Barclays Business Banking said. “With this new initiative our business customers will know that at the moment they need to borrow, the investment is there to support them. We recognise that not every small business wants debt or to increase the existing facilities. We want to lend the right type of finance, whether that’s an extended overdraft, long term finance, or looking at wider forms of equity funding. Overall we think instant lending can deliver a huge shot in the arm for SME’s across the country and for our economy too,” Vaswani added.



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Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (3 Day 22:55 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.



M&A insurance grows as confidence increases

18/04/2014 16:18 (1 Day 23:30 minutes ago)

The FINANCIAL -- As the green shoots of economic recovery have started to show in key markets like the UK and US, demand for mergers and acquisitions (M&A) insurance has been rising, according to Lloyd's, the world's specialist insurance market.


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