Small and medium-sized enterprises (SMEs) in Scotland, which may use serviced offices in Edinburgh, are not being offered an adequate amount of financial support by traditional high street banks, according to a money expert.
Speaking to The Herald, Aldermore Invoice Finance managing director for Scotland Richard Waldman stated that as a result of this lack of help firms are turning to his company for loans.
"The traditional banks don't appear to be doing an overly-great job for SMEs at the moment and that is creating a market opportunity for us," said Mr Waldman.
He added a business requires investment no matter what stage it has reached - whether it is growing or shrinking - with Aldermore's services appealing to SMEs searching for affordable loans that can be hard to find following the credit crunch.
The corporation announced a 21 per cent second quarter increase as a result of a surge in a demand for its loans from small businesses.
A statement from business minister Mark Prisk yesterday (September 28th) may also result in SMEs being given greater financial help, after he said the government wants to help companies that previously sought money from their banks.
