The Institute of Directors has revealed that during 2009/10 a staggering 60% of businesses were refused finance by their banks and a to make matters worse 20% of business are to some extent financing their business with credit cards.

This really does lift the lid on Bank lending claims. Clearly there is massive gap between what the banks are prepared to tell us and the harsh reality of trying to run a business in recession hit Britain.

The double edged sword here is that businesses are then turning to expensive credit card finance to stay afloat when reasonable bank finance should be more readily available and so the Banks are making even greater profits from their credit cards at the expense of struggling businesses. Now that’s a disgrace.

It’s time the Government renewed pressure on the Banks and especially the nationalised ones to ensure finance is available to help ease Britains businesses through the recession and thus help the country out of recession, with guaranteed finance committments.

Its our banks provided more ready finance for cash strapped industry rather than excessive bonuses for cash happy bankers.