News Column

Firms launch TripAdvisor for bank loans in a bid to lift competition

May 28, 2014

TIM WALLACE



SMALL businesses are now able to compare banks on a new site designed to show which lenders can help them the most.


The Business Banking Insight website has been put together by the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC).


The pair commissioned a survey of 5,000 small firms by pollsters ICM to build rankings of 74 banks, building societies and other lenders.


Firms can compare the ratings given to lenders by firms of their size and in their sector.


The FSB and BCC hope it will make life easier for small firms, and prompt banks to work harder to meet their needs.


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Source: City A.M. (UK)