A new survey has revealed that businesses, such as those in serviced offices, are still finding it difficult to access finance from their banks.

Research carried out by the Institute of Directors (IoD) revealed one-in-three firms that applied for finance between January and June 2010 were declined by their bank.

Companies may wish to look into the potentially lower costs offered by a serviced office.

It found that 39 per cent of IoD members' firms applied for finance with a bank - including requests for renewals, extensions, new requests for overdrafts and loans - in the first six months of the year.

Of these companies 33 per cent had their request turned down.

Miles Templeman, director-general of the IoD, said: "The survey indicates that some access problems relate to lending criteria becoming more restrictive with regard to the amount of security requested by banks."

The IoD is a non-party political organisation with more than 45,000 members from across the business spectrum in the UK and overseas.