Aldous raises awareness about bank support available to businesses

Waveney MP Peter Aldous this week highlighted an important initiative that the major banks have currently have in place to help small and medium sized businesses.

The Appeals Process was launched by the major UK banks and Government in April 2011. The process allows any business, with a turnover of up to £25 milllion, which is declined finance by a participating bank to appeal against that decision for any reason.

RBS, Lloyds, HSBC, Barclays, Santander, Bank of Ireland, First Trust Bank and Northern Bank banks are all involved in the Appeals Process.

Each bank has implemented its own individual process that meets a set of commonly agreed principles, which is overseen by the independent reviewer Professor Russel Griggs.

Results published recently showed that for the second year running, 40% of decisions to refuse lending were overturned on appeal indicating that the process works. However, awareness of the process amongst businesses remains low and this is limiting its impact, resulting in few businesses appealing against the bank’s decision.

Mr Aldous said:

“Not enough is being done to promote the process and raise awareness amongst businesses. I encourage all small and medium enterprises in the Waveney area that have been turned down for finance to not give up and consult the Appeals Process.”

Further information about the process and how a business can contact their bank to discuss an appeal is available at


Peter holds regular surgeries at various locations in the constituency. Please call 01502 586568 to make an appointment.

Next Surgeries - 2018: 
Beccles, Saturday 14th April
Lowestoft, Wednesday 30th May


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