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Warning for banks over Project Merlin

THE Project Merlin deal between banks and the Government may have to be revisited if, as expected, figures published today show that UK institutions are not meeting their targets, the Federation of Small Businesses Scotland has warned.

Under the Project Merlin deal signed in December, the UK’s largest banks agreed to make £190 billion of funding available to businesses this year, of which £76bn should go to small and medium-sized firms.

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