Patsy McGlone 28th July 2009

MCGLONE URGES FARMERS AND SMALL BUSINESSES TO MAKE CONTACT OVER LENDING

SDLP Agriculture spokesperson Patsy McGlone has urged farmers and local businesses experiencing difficulties with their bank over lending to contact his office.

Mr McGlone was speaking after attending a Stormont Agriculture Committee meeting on Tuesday to discuss the banks’ continuing relationship with farmers.

The SDLP is also compiling a list of cases to be presented to Prime Minister Gordon Brown over banks’ refusal to lend creating difficulty with small businesses here.

Mr McGlone said: “Banks need to appreciate how valuable their relationship with local farmers is. Farmers have traditionally been big customers for banks and that needs to be protected into the future. Dairy farmers are particularly suffering a tough time and banks need to think of the bigger picture and lessen the interest rates against loans for the dairy sector.

“During Prime Minister’s question time, my party colleague, Alasdair McDonnell MP, called on Gordon Brown to take action against banks refusing to provide essential lending services to local viable businesses.

“These banks are failing to live up to their obligations to lend and as a result a number of local viable businesses have been pushed over the edge and are in danger of being pushed over the edge. The banks were bailed out by the public. Many could, and should, be providing a better service to the public.

“In response, the Prime Minister asked for a list of the banks and the companies involved, and has given a commitment that he will examine every case and remind banks of their obligations.

“We are currently compiling a list of cases to present to Gordon Brown.”

ENDS 28/07/09