Bank lending to small/medium-sized businesses is down by £400 million according to latest trends in a Lending report.
The Bank of England report, which brings together all available lending data, has shown that the Government’s Funding for Lending Scheme just isn’t working with SMEs finding it more and more difficult to get loans from banks.
According to the report £170 billion was loaned out in July, whereas in August it was down to £169.5 billion. And it isn’t only small businesses that are seeing the struggles. The FLS scheme is failing to benefit large firms too, with lending down £3.9bn to corporates in the three months to September 30.<...>Read more »