Small firms, such as those using serviced offices in Hemel Hempstead, may benefit from new commitments announced by the Bank Taskforce.
John Walker, national chairman of the Federation of Small Businesses (FSB), said the 17 proposals announced by Taskforce – such as a regional outreach programme - will go a long way to helping rebuild trust in small companies.
He added the measures will allow companies an independent right of appeal should a scenario arise where they think they have been treated unfairly, as well as an idea of what to expect when using money lenders.
"This will help to restore confidence and trust that has been lost for both those who can't access finance as well as those who are wary of approaching the banks," Mr Walker stated.
A review of a firm's funding a year prior to its end date and the strengthening of communication channels are two further proposals that have been welcomed by the FSB.
Earlier this week, statistics published by the department for Business, Innovation and Skills showed small and medium-sized enterprises have experienced an £88 billion rise in turnover since 2008.
