"These figures would surely be worse still if Funding for Lending was not in place, and it is true there is a weakness in demand, but it remains disappointing to see less money being lent in this crucial part of the economy. Without more lending to small businesses their growth and the country’s growth will remain slow. Politicians of all parties need to have a hard look at the lending sector ahead of their conferences in September and October. Our members believe that measures to support better and wider bank lending to the small business sector is a crucial component of any prospective government’s manifesto.”
Commenting on the latest figures for the Funding for Lending Scheme (FLS), Phil Orford MBE, Chief Executive of the Forum of Private Business, said
“The Funding for Lending Scheme shows another net reduction of funds reaching small businesses.