According to research by Moneyfacts.co.uk entrepreneurs are finding it more difficult to gain credit now, than they were before recession hit. Risk based lending has gone up. Santander Savings also revealed that the time period between paying off one’s mortgage and retiring has gone down significantly. Earlier credit card companies were more than happy to give away cards. Now they have gone from a rate based philosophy to a risk based one. This is essentially because the rate of default has gone up. In order to support SMEs and help the economy recover the government has advised banks to offer businesses more credit.