The Appeals Process for denied lending really works, report finds

The appeals scheme has secured £46m in additional lending for businesses in the last three years in over 10,000 appeals made.

Professor Griggs said: “The three months to June have shown again that the banks are now using the Appeals Process to continually assess and look at their decision systems.  

“It is clear how the Appeals Process has become a positive driver of change and is making a real impact on the lending process for SMEs.”

The appeals scheme allows businesses with a turnover of up to £25 million to challenge the bank if it rejects them for finance, or are unhappy with the conditions offered.

Two more banks will be added to those which allow appeals, TSB and Clydesdale (including Yorkshire bank).

Image source

Share this story

Close
Menu
Send this to a friend