Fruitless quest for credit no joke

Published on Saturday 27 June 2009 19:44

HAVING read the lead article written by Rosemary Gallagher (Business, 21 June), I have to say that I found the closing paragraph to be just the funniest thing I have read in a long time.

To say that the problem is not with the supply of credit but demand from companies only leaves me to conclude that our banks are doing a better line in humour these days than they are in credit.

I talk from experience both directly and through conversation with directors of other businesses I currently deal with who all work within the funding bracket mentioned in the article, and the message that comes back from all financial institutions is that the cupboard is empty.

The pot of money that is available is enough to keep viable business ticking over and that is just about it.

The demand is there and across most sectors. It is frankly bursting at the seams, but until funding and credit actually become more freely available instead of just talk, then all we can expect is to tread water at best.

David Stirling, managing director, Allan Water Developments Ltd