Shimmin to meet with banks to encourage lending

Tue, 27 Mar 2012

Economic Development Minister John Shimmin MHK

The Economic Development Minister is to hold meetings at the head offices of banks in a bid to increase lending to businesses on the Island.

John Shimmin says he has noticed the amount of lending to small and medium sized businesses decreasing.

However, he says the Isle of Man is better served than the UK, and that he wants to attract more banks to the Island.

Mr Shimmin believes explaining the differences between the Isle of Man and the UK will help increase lending to Manx companies [play clip]