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91% of business loans accepted, says FSB

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Some nine in ten (91 per cent) bank loans are accepted for businesses, according to the Federation of Small Businesses (FSB).

Simon Briault, spokesperson for the FSB, said that although banks in general have become more cautious of small businesses - especially web-based ones - they are stil willing to provide finance.

"We don't have specific data for web-based businesses on this but a Federation of Small Businesses survey found that 91 per cent of bank loan applications for all kinds of businesses were accepted," Mr Briault said.

He added that the weariness on banks' behalves was caused by the bursting of the dotcom bubble in 2001, but that such companies "were becoming popular again".

This is in part down to entrepreneurs "taking advantage" of the opportunities the internet offers, he said.

The FSB was formed in 1974 and has members across 33 regions and 230 branches.


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