SME's shun bank lending

 SMEs shun bank lending

New research shows that SMEs are shunning bank lending despite marked improvements in the availability of credit. BDRC Continental’s SME Finance Monitor found that success rates for bank loan applications are at their highest level since the survey began in 2011. Nevertheless, a growing proportion of companies are opting for self-reliance over external finance. Almost half of SMEs are now "permanent non-borrowers", according to BDRC Continental. In the first three months of this year, only 18% of small companies said that they had borrowed money over the course of the previous year, compared with about 25% in 2012 report Harris & Co chartered accountants Northampton