Commenting on the publication of the Bank of
"BBA figures out today show that we are starting to see a pickup in borrowing by small and medium sized businesses. It is also encouraging to see that the Funding for Lending Scheme is continuing to be used to help businesses. Companies are also increasing their cash reserves, which suggests that the sector is in a healthy position.
"The majority of businesses who approach their bank for a loan are successful and if they are not there is a process in place that allows them to appeal the decision. We'd encourage business owners thinking about borrowing to approach their bank to learn about the range of financing options that are available."
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