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29 July 2013

FSB Comment on bank lending

Reference number: FSB PR 18/2013

Commenting on the Money and Supply data from the Bank of England which showed lending to small firms rose by 0.2 billion in June, but fell 0.5 billion in the six months to June.

John Allan, National Chairman, Federation of Small Businesses, said:

"It is encouraging that lending to the smallest firms has risen in June, but for a lasting impact we need to see this over a number of months. We have already seen the price charged by the banks for finance fall since the introduction of Funding for Lending. However FSB member data shows that over the past several quarters, four in 10 firms see applications refused from the banks."