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Banks won't lend to pubs.

Found this at the Morning Advertiser about the state financed banks not lending to pubs.

Angry licensees have slated major high-street banks for saying that they won’t lend to pubs.
The MA has been inundated with messages from hosts who say they have been turned down for credit, claiming that banks have told them it’s their policy not to offer finance to pubs.

This is despite the Government’s multi-billion pound banking bail-out, which the Treasury said required from banks a “full commitment to support lending to small businesses”. It also comes at a time when Punch, for example, is extending its pub sale offer to all its outlets.

Licensee Ray Bispham said he had banked with LloydsTSB for 15 years, and about two months ago his bank manager said no, “‘a decision made at the top’ meant he could not offer me any overdraft or loans”.

Bispham, of the Jolly Tar in Nantwich, Cheshire, said his bank manager told him the bank “was not lending to any pubs due to the crisis in which most of them find themselves”, with nine out of 10 pubs in his patch in debt or about to close.
Oh the irony of this, think about the attitude of the banks. 

It was their jumping on the credit boom and lending to anyone that caused a lot of the problems we have today. 

They were unable to stay in credit and in effect became bankrupt.

They had to go cap in hand to the government to get our money to help resolve their problems.

Now after running their businesses into the ground, they say that pubs are to much of a risk for bank cash. Right and so by that argument the state should put its money in its pocket and bail them out like we had to with the banks?

Maybe the bankrupt banks can let me as a "stakeholder" know when they are going to re-pay the overdue monies that they owe back to the UK taxpayers. Maybe I should send them a letter advising they have gone over their credit limit and charge them £35 quid?

But for Lloyds to refuse credit is just to much. After all they are run by Eric Daniels or the Uber-felchard as I call him. A man who screwed the share price of that bank from £10 to 64p.

Then again they don't mind lending credit to dictatorships or sanctions busting, helping support terrorist states. But won't support local businesses?

Oh and they attempt to flog credit cards to kiddies.

Oh and I have a very low opinion of the directors of Lloyds Tsb(a very sweary post).

Mind they are overseen by the piss poor FSA an organisation that as I stated before is incapable of regulating a bowel movement in a toilet.

2 people have spoken:

Oldrightie said...

The Bastard Government want meeting places(pubs) closed down to prevent debate and discussion and more importantly, fun.

Anonymous said...

Maybe the government is looking for pubs to be shut down so they can be opened up as Mosques, sorry Islamic centres?