Bank Governor King writes to van man over loan refusal

Sir Mervyn King, the outgoing Governor of the Bank of England, has written to a small business owner to offer his sympathies after the man's own bank refused him a loan.

Mike Benson, whose business is based in Bromsgrove, Worcestershire, wrote to King after Bank of Scotland refused to grant him a £10,000 loan to go towards the cost of a new transit van. According to the BBC, Benson was surprised to receive a personal reply from the central bank Governor (pictured), who said he understands the difficulties facing small businesses. He reportedly wrote: "I was sorry to read of the difficulty you have had in trying to replace your transit van. "I can fully understand how maddening that, and the behaviour you describe from the banks you have spoken to, ...