"I'm staggered by the state of the banking market at the moment," he says.
"The worst thing for an SME who's working every hour God gives them, particularly in this economy at the moment, is to go and see the branch manager who is probably a generalist. What he [an SME owner] wants is someone who is an expert, dynamic, reliable and straightforward. And someone who is coming out to see him."
Phillip also argues that banks needed more of a common-sense approach in regards to finance approval.
"You get that common sense test as opposed to just looking at the balance sheet and the figures," he comments.
"I'm really surprised that there aren't more [banks like] Aldermore out there. Particularly on the SME side," he continues, commenting on Aldermore's success in regards to its personalised approach to British banking. Indeed, at Aldermore we use underwriters for our clients, rather than automated credit checks, preferring to assess each business application on its own merits. You can discover more about our approach to banking via our website.
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