small firms charged 20% interest by big banks

new research reveals that high street banks are charging some customers more than 20 % in interest, despite receiving billions in tax payer support to ramp up lending.

financial information start-up DueDil found that Nat West & Santander are the most expensive of the big five high street lenders, with Nat West charging up to 29% for business loans throgh its Esme online service. The APR on Santanders online small business loans ranges from 4.9% to 25.9 % with directors required to put up their home or other assets as security. – The Sunday Times