The geographies of access to enterprise finance: the case of the West Midlands, UK

Author: Advantage West Midlands (AWM), Ainsworth D., Aston Reinvestment Trust (ART), Aston Reinvestment Trust (ART), Aston Reinvestment Trust (ART), Bank of England (BOE), Bank of England (BOE), Bank of England (BOE), Bank of England (BOE), Birmingham Post, Bolton J. E., Breedon T., Cabinet Office, Community Development Finance Association (CDFA), Community Development Finance Association (CDFA), Community Development Finance Association (CDFA), Community Development Finance Association (CDFA), Deloitte and Touche, Innovation and Skills (BIS) Department for Business, Innovation and Skills (BIS) Department for Business, Innovation and Skills (BIS), Cabinet Office and GHK Department for Business, Economist, Economist, HM Government (HMG), HM Government (HMG), HM Treasury (HMT), HM Treasury (HMT) and Bank of England (BOE), Innovation and Skills (BIS) HM Treasury (HMT) and Department for Business, House of Commons West Midlands Regional Committee, Independent Commission on Banking, Leyshon A., Lindsey Appleyard, Macmillan H., Mayo E., National Strategy for Neighbourhood Renewal (NSFNR), New Economics Foundation (NEF), New Economics Foundation (NEF) and Nicholson B, Office of National Statistics (ONS), Office of National Statistics (ONS), Pimlott D., Radcliffe C. J., Seager A., Smith D., Stewart H., Storey D. J., Sunderland R., Tyler R., Wearden G., Wheatley C., Wilson H., Winnett R.
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The geographies of access to enterprise finance: the case of the West Midlands, UK, Regional Studies. Whilst there is a long history of credit rationing to small and medium-sized enterprises (SMEs) in the UK, the financial crisis has seen banks retreat further from lending to viable SMEs due to a reassessment of risk and lack of available capital. In so doing, the credit crunch is thought to be creating new geographies of financial exclusion. This paper explores the financial inclusion of enterprise through community development finance institutions (CDFIs) which provide loan finance to firms at the commercial margins in the West Midlands, UK. The paper concludes that CDFIs could partially address the financial exclusion of enterprise as an additional, alternative source of finance to that of mainstream banks

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