Forum Chief Executive Phil Orford said:
"These figures will be another disappointment to small firms, particularly after the recent tweaks to the government scheme and especially after the glimmer of hope last month's GDP figures provided.
"The Funding for Lending scheme (FLS) has supported the supply side, most noticeably with mortgage lending which has led to an improvement in demand. It is now imperative that the major banks focus on delivering the same successful formula to businesses with innovative and attractive products. FLS is there to help promote demand for lending and support economic activity and in that respect, most of the major lenders are still falling short."
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The Forum of Private Business has responded to the latest lending figures released by the Bank of England.