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Commercial Credit News
|Small businesses over-reliant on personal savings and overdrafts|
|Tuesday, 09 June 2015|
Research from Bibby Financial Services (BFS) has found that UK SMEs are dipping into personal savings, using loans from friends and family or bank overdrafts to finance their businesses.
BFS’ SME Tracker found that 14 per cent of SMEs use personal savings and loans from friends or family, while around one in four (23%) actively use a bank overdraft to fund their business.
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