News Column

BBA Q2 2014 SME Lending Statistics Release and Response to Latest FLS

August 28, 2014

LONDON, Aug. 28 -- The British Bankers' Association issued the following news release:

Commenting on the publication of the Bank of England's Q2 Funding for Lending Scheme statistics and the BBA's latest figures on lending to SMEs, BBA Executive Director of Business Finance Irene Graham said:

"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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Source: Targeted News Service

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