For many years banks have been reluctant to extend credit to small businesses. In part because of this, new players have recently entered the market, such as, in the Netherlands, credit unions and the newly-established microfinance organisation Qredits. SP Euro-MP Dennis De Jong, commenting on the problem, says that ‘the European Commission still works primarily via traditional banks. For other players all sorts of barriers have been erected. I’ve now asked the Commission to ensure that these new initiatives, which are more in tune with the small business owner, are given a fair chance.’
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