And owners of small businesses are finding it necessary to turn to what is essentially a black market in finance as loans available from banks decline and the growth of the money supply slows.

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The new black moguls were to repay their loans when their shares appreciated in value.

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The business minister Andrew Stunell is to bring together finance and start-up business experts to look at the barriers preventing black and ethnic minority groups from accessing loans.

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The affected company, Bank of Scotland Dealer Finance, will not give out any new loans after September, Lloyds said, but it will continue to serve existing customers through its Black Horse Motor Finance brand.

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