Small Firms Turn to Friends for Funding

Daily PostFebruary 25, 2009

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Summary


MORE than 22,000 SMEs across Wales are turning to family and friends for cash rather than the banks - six times as many as when polled in early 2008.

Research from Close Invoice Finance, part of the FTSE 250 merchant banking group Close Brothers Group, shows that SMEs are having to rely on family and friends as bank funding dries up.

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Small Firms Turn to Friends for Funding

Close's Small Business Finance B...

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