This is all excellent news, and on Wednesday we had more, this time, shock horror, from RBS, who have announced a major audit of the way they assess loan applications of SMEs.
Banks have been risk-averse for far too long, but if this is a serious change of direction from a lender like RBS that’s great news for those firms seeking credit.
SMEs need cash to grow, deliver employment and create wealth, so the end result of this process could be key to business growth in the months ahead.
Every new day brings us another ‘green shoots of recovery’ story in the media. Of late we’ve had positive manufacturing data, retail sales up, apparently the UK never even entered the second recession (technically speaking), and there’s even talk, shock horror, that GDP growth might actually have exceeded ONS forecasts and be revised up later this month. Now that would be something.