Lord Sugar weighs into credit debate

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Lord Sugar weighs into credit debate

Simon Quicke

Lord Alan Sugar has decided to share his views about SME credit describing most of those that are rejected for credit as 'skint' and not worth the backing of the banks.

The views from Sugar, shared at the Business 2012 conference, come at a time when the government has been making efforts to try and get the banks to provide more credit to smaller firms and follows just days after the Budget and the launch of a £20bn government-backed loan scheme.

Sugar, who has the current series of The Apprentice to promote, said that politicians should stop whining about the banks and firms that were not getting money had to be realistic about their situation.
 
The comments made by Sugar have appeared widely this morning across the web and will do little to appease small business groups who criticised him when he described those looking for credit as "moaners" a couple of years ago.

He used the "moaner" line again at the conference pointing out that those firms that had tightened their belts but didn't want money were the ones that the banks would have been prepared to lend to.

"The other side of the coin are the moaners. They're all skint and you wouldn't lend them a penny. They're the ones who shout and scream and find a journalist or a politician," he said.
 

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