New Banking Deal for Small Companies Stalls

The coalition government’s attempt to reach an agreement with UK’s biggest banks has collapsed, leaving a plan to loan £200bn to businesses up in the air.

The plan, known as Project Merlin, was expected to be formally announced this week but instead negotiations will continue, causing a delay which is set to hamper small to medium companies.  The delay seems to concern governance issues, with the banks arguing that lending targets for weaker business may break rules which state that any decision they make should be in the best interests of share holders.

At Muckle LLP we act for a wide range of businesses, from start-up businesses and charities to large organisations such as Greggs Plc and Sage Group Plc.  Our commercial team will work closely with you to understand your business, identify obstacles and formulate solutions to ensure that you can do what you do best; running your business.

For further information on what Muckle LLP can do for your business, please email us at [email protected] or call 0191 211 7777.