Small business lending: 'We feel our hands are tied'

Banks in the UK have continued to reduce the amount they lend, in spite of government attempts to reverse the trend.

Latest figures from the Bank of England show that net lending fell by £300m in the first three months of 2013.

Adam Day is the managing director of Hatched, a nationwide online estate agents which features on business secretary Vince Cable's list of business likely to become household names.

He said that despite being earmarked as a "sound business" by the government, the banks were unwilling to support the company's expansion plans.

"For me the bank funding just isn't filtering through to small business.... We feel like our hands are tied" he added.

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