Friday, February 15, 2013
More appeals loans UK managed
Nearly 40% of appeals are launched when the bank refused to provide loans or business loans proved successful. The appeals process is initiated by the British Bankers' Association (BBA) banking task force in April last year and has so far dealt with the 2177 appeal. With this, 39.5% of the cases are approved, then the business can receive funding they requested, according to a report by Professor Russel Griggs BBA. Business Forum of Private senior policy adviser Alex Jackson said: "The fact that nearly 40% of the appeal of the loan really recovered it clear that the bank will not measure some small business loan risk accurately the first place, and that must change. "The report is right to recognition of over-centralized banking system that relies too heavily on automated risk criteria and data from the company's credit ratings, many of them appear to use very different factors to assess the credit worthiness of the company. We need more real bank managers to understand the benefits of individual business loans and make decisions accordingly. "More competition between the major banks are required, as well as the rules allow alternative loans less reliant on automated systems risk more effectively compete in the SME finance market is dominated by large banks, including both standard standardizing credit rating. ' He said that the 2177 appeal was "very likely just the tip of the iceberg" of the happy owners of businesses felt they had rejected Ben unreasonable.