FINANCE

High street banks ‘less likely to lend to women’

Female entrepreneurs turn to savings, credit cards and loans from family and friends, meaning they don’t scale businesses as fast as men
Emily Campbell, a director of Campbell Environmental Oil, noticed that bankers seemed to respond better to her brother
Emily Campbell, a director of Campbell Environmental Oil, noticed that bankers seemed to respond better to her brother

Two-thirds of women running small and medium-sized businesses believe that the high street banks are less likely to lend to them than their male counterparts, a survey suggests.

The poll of 1,000 companies found the problem may be getting worse rather than better, with more than half of female business leaders saying it’s more difficult to access external finance than it was six months ago.

Roxanne Goodman, founder of Female Founder Finance, an independent finance broker that helps women access lending products from banks and other lenders, said the research from Bibby Financial Services mirrored the experiences of women she works with.

Roxanne Goodman, founder of Female Founder Finance: “If you’ve got kids or a family, the thought of securing a loan against your family home is daunting”
Roxanne Goodman, founder of Female Founder Finance: “If you’ve got kids or a family, the thought of securing a loan against your family home is daunting”

“The majority of our clients have gone to their bank in the first place and typically asked for an overdraft to support their