• SME lending (loans and overdrafts) fell by £383 million in September 2013, lending to large businesses rose by £1.1 billion.
• Total business lending rose by £720 million in September 2013
Commenting on the latest lending data (Bankstats) from the Bank of England, Dr Adam Marshall, Director of Policy and External Affairs said;
"It’s good to see overall business lending rise, as this has an impact on business confidence. Yet these new figures show that while large firms have little difficulty tapping debt markets, SMEs – and particular young, fast-growing firms – continue to struggle to access growth capital.
“Both policy-makers and financial institutions need to do more to help fast-growing SMEs access finance. The British Business Bank has a huge role to play here, and should be enhanced with additional capital to help plug the gap.”