Tenet bailing-out adviser firms abandoned by banks

The network has revealed it has provided more than £1m in financial support to its adviser firms. It says although the majority has been awarded for business development or to help fund acquisition opportunities, short-term help with cash-flow problems has also been made available where banks have been unsympathetic or unwilling to assist. It also notes that analysts have predicted the ‘big five' banks will report collective interim profits of around £8.5bn, but says despite such an impressive upturn, their flow of lending to small businesses shows no sign of a parallel improvement. ...