Friday, August 07, 2009

Business Funding Dries Up For Dive School

A diving school which is profitable had its funding withdrawn for a holiday homes project midway through construction.

UK Taxpayers' money has been used to prop up high street banks so that they would keep lending to small businesses.

But some small firms are still finding it hard to get funding from banks.

Carol Hack from the Capernwray Dive Centre, in Lancashire, explained how her bank pulled her funding half way through a project to build new holiday homes.

Watch The Video

At least this small business could complete the project without bank funding. It's just a shame that she didn't name and shame the bank concerned.

In New York, she would have sued the bank claiming they broke agreements in the construction and financing of the holiday homes and damaged her business reputation.

The fact they were able to complete the project using their own finances and sold at asking price shows another case of the bankers not understanding the marketplace.

Congratulations Carol.

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