Forum of Private Business responds to the latest Bank of England’s Trends in Lending Report
Commenting on the Bank of England’s latest Trends in Lending Report, released today, Alexander Jackman, Head of Policy at the Forum of Private Business, said:
“Figures today from the Bank of England continue to show that businesses are paying back their debts faster than banks are lending more money. Despite reported greater availability of loans there remains dampened demand among SMEs. With the economy picking up we would expect more businesses to begin to regain an appetite for lending in the figures for the next quarter.
“Businesses should not be put off by today’s data. There are many finance options and new funds available and although the relationship between small businesses and banks has been muted in recent years, there are signs that businesses should no longer feel discouraged in seeking finance. As ever, it is up to the banks to continue to reach out to their customers to support the recovery.