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A new survey has revealed that almost 75 per cent of small business owners in the UK feel that excessive fees and margins are levied on their bank loans.

The research, carried out by leasing firm Syscap, found that the lending margin on loans to small and medium-sized businesses averaged 2.91 per cent in June, up from 2.08 per cent in June last year.

Syscap chief executive Philip White said, “Banks have managed precious little progress on the overall cost of their loans.”

The survey also found that 38 per cent of businesses reported that their ability to access loans has worsened over the last year.