The latest from the Black Country 

BCC: Lending Rise Good for Firms, but Accessing Finance Still an Issue

  • British banks and building societies drew down £2.4bn in Q3 2015 from the Funding for Lending Scheme
  • Net lending to SMEs rose by £675m in Q3 2015

Commenting on the Funding for Lending figures, published by the Bank of England today, Suren Thiru, UK Economist at the British Chambers of Commerce (BCC), said:

"It is encouraging that SME lending rose in the third quarter as this, alongside the extension of the Funding for Lending Scheme announced earlier this week, will help to boost business confidence.

“However, more needs to be done to help young, high-growth firms. Many still remain frozen out when it comes to accessing the finance they need to reach their full potential. This must also be supported by a British Business Bank that has the funding capability to match the ambitions of our future wealth creators.”

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