Government Review of Mandatory Bank Referrals Programme Funding Xchange sees opportunity for the bank referral scheme to turn half of business lending declines by banks from a ‘no’ into a ‘yes’

A government review of the Mandatory Bank Referrals Programme highlights an opportunity to improve SME access to finance by better identifying why businesses are declined, with FXE Technologies analysis suggesting that up to half of bank lending refusals could potentially be converted into approvals through improved feedback and stronger borrower preparation.

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