UK financial institutions must act quickly in accessing loans from the European Investment Bank, it has been claimed.
It might interest business insurance customers to know that David Frost, director-general of the British Chambers of Commerce, believes that the move is vital to restore liquidity British Banks.
In turn this will provider a much needed boost to the country's small firms, some of which are struggling because of a lack of cash flow.
He said: "We welcome these measures. Business needs all the help it can get, particularly in accessing finance."
Mr Frost also called on the government to take action and strip away some of the bureaucracy which can hinder firms when trying to access EU funding.
Recently, the Liberal Democrats claimed that banks should be forced to lend to small businesses.
According to the party, the fact that the government now owns a majority share in a number of institutions means it should make them supply cash to firms.
