Growing businesses left out in the cold on bank lending

3rd June 2013

British banks and building societies drew down £2.

6bn in Q1 2013 from the Funding for Lending Scheme. Net lending to businesses decreased by £300m in Q1 2013 Commenting on the latest figures on the Funding for Lending Scheme (FLS), John Longworth, Director General of the British Chambers of Commerce (BCC) said:  -Although the £300m fall in lending was a smaller drop than the previous quarter, it is a concern that lending continues to contract despite the Funding for Lending Scheme having been in place for nearly a year. It is also worrying that usage of scheme seems to have dropped significantly since the end of 2012. -The real test for Funding for Lending is whether it is able to get credit flowing to young and fast-growing businesses. Unfortunately many of these growth firms are still being left out in the cold when it comes to accessing finance, which prevents them from expanding, creating jobs and helping to drive a business-led recovery. These figures give weight to the argument for the swift delivery of a British Business Bank, which must have both the scale and the infrastructure needed to help young firms grow.

You might also be interested in

St Luke’s Joins Chamber as Patron in 50th Year

Fri 17th June 2022

St Luke’s has joined Sheffield Chamber as a Patron as it celebrates its 50th year.

BCC: Upswing In Trade Must Be Sustained

Mon 13th June 2022

Responding to the latest ONS Trade figures released today, William Bain, Head of Trade Policy, said:

Three days of jobs and advice - The Source and LUFiS stage Sheffield’s biggest careers event for young people

Mon 30th May 2022

A three-day careers event - the biggest in South Yorkshire - to steer young people into training and jobs which will grow their potential and lead to successful careers.

BCC Respond to New Trade Framework Deal with Indiana

Fri 27th May 2022

Reacting to news of the deal, William Bain, Head of Trade Policy at the BCC, said: