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The Bank Taskforce has been set up by six major banks, Lloyds, Royal Bank of Scotland, HSBC, Barclays, Santander and Standard Chartered. It has pledged £1.5 billion to a growth fund aimed at supporting the private sector. It is heartening to see major banks in the country attempting to restore the faith and trust of the SME community. The Federation of Small Businesses has welcomed this move by the banks and hopes that it will help businesses once again gain access to the finance they require. Measures announced by the Bank Taskforce will help businesses understand how to approach banks and what to expect.
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