Home > > Sharp decline in small business lending
Sharp decline in small business lending
8 July 2010
UK banks offered small firms just £900 million in extra loans last year, new statistics have revealed.
That figure is only a quarter of the average level of increased lending seen over the previous five years.
The data has come from the British Bankers' Association (BBA).
According to the figures, overall small business borrowing rose from £54.4 billion to £55.3 billion in 2009.
For the five years before, the average rate of annual increase in lending was £4 billion.
David Dooks, the BBA's director, explained the decline as a result of a reduction in demand for credit.
The BBA report went on to say that one of the trends noted in the statistics was a greater willingness among bank customers to pay off loans and boost savings.
Financial Crisis - Banks - Lending & Saving
-
3 February 2012
Policy maker accuses banks of failing businesses -
15 December 2011
Business finance Taskforce launched -
14 November 2011
Banks lend more to businesses, but less to SMEs -
8 November 2011
Credit easing must be bold, as a third of small firms are refused credit -
24 October 2011
Help medium-sized businesses to grow and the economy will follow
Financial Crisis - Effect on Small Business
-
8 February 2012
HMRC to clampdown on PAYE and NIC avoidance -
7 February 2012
Businesses encouraged to join Government’s prompt payment drive -
6 February 2012
HMRC business record checks halted -
3 February 2012
Policy maker accuses banks of failing businesses -
2 February 2012
IFS argues for major Budget tax cut
Spotlight - Credit Crunch
-
18 January 2012
Record levels of self-employed through necessity -
9 December 2011
Bank keeps interest rates at 0.5% while Eurozone plot thickens -
6 December 2011
Credit crunch caused surge in business closures -
1 December 2011
Banks urged to bolster finances -
20 October 2011
Retailers pin hopes on Christmas as inflation buoys sales
