Capital idea for sharing
If the banks aren't lending to business, perhaps business is looking in the wrong place.
That's according to Mark Hoban, Financial Secretary to the Treasury, when speaking to Scottish Financial Enterprise in Edinburgh today.
He was giving a round-up of government policy on regulation and promoting growth, reminding a receptive audience of how important the financial sector is.
But the bit that's still missing is how to get finance to small and medium size businesses (SMEs).
That was underlined by this week's report from Holyrood's economy committee into the enterprise agencies, totting up the £262m of equity investment by Scottish government agencies, and saying that the case for more funding for private business is urgent.
According to the Treasury minister: "If we want a private sector recovery, this is something we have to address."
SMEs are "easily the nation's largest employer" (though some might argue with how easy it is to be an employer), and "it's their success that defines growth in the economy".
Over-reliant on banks
There have been credit guarantees, the growth fund and a promise from banks to reach lending targets, "but it's also apparent that many businesses still feel shut out of the equity financing market.
"They've become over-reliant on bank lending as their primary source of external finance, when other types of funding would better suit their needs," he said.
The government is looking at Britain's strength in equity markets - representing 70% of the European total - and asking why it isn't sufficiently liquid for smaller enterprises.
"There's a real opportunity to do more," said Mark Hoban.
Quite what he meant we don't know, as this speech was delivered behind the SFE's closed doors.
But it may be that this refers to UK government's look at the possibility for a range of stock exchanges located around the the UK, as they were until the 1970s.
But as readers of the Ledger know, attempts to rejuvenate the idea - in Wales and in Birmingham - have been rather less than successful in unlocking new sources of funding.