Don't Wait For Gov't Self Employed Loan Help – Get Proactive

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The Government has pledged to do more to make sure that borrowing increases for small business and the self employed person – but don't wait around for bureaucracy, get proactive with some professional help.

Lord Myners, financial services secretary to the Treasury, says: "The extraordinary events in credit markets over the past two years have shown that the continued availability of any single form of business finance cannot be taken for granted. Right across the world, firms that had relied on loans from banks to finance their operations found themselves in a very difficult situation when bank lending contracted."

The Government hopes to use the lessons learned from big business and see whether it is possible for small businesses to get hold of money through the money markets or through corporate bonds. It's a good idea, but one that will take time to get through the bureaucracy of government. If you need money you need money now, not in five years.

That's why you need to get proactive if you are seeking out self employed or small business credit, and that means seeking out a professional adviser who can point you in the right direction with regard to loans and mortgages for the self employed and for small business.

It is tough to access credit for the self employed, and it will get easier in the future. But if you need your money now, see what a professional can do to help you through the mine field that is small business and self employed credit in 2010.

SOURCE: HMT, 12/01/10

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