UK Bank Lending to Small Businesses Fall in First Time Report

British banks have cut back on lending to small businesses in all but 22 postcode districts in the UK, according to data published for the first time , sparking accusations that lenders are failing to support a key potential area of economic growth.

More than 80% of the country’s 120 postcode areas experienced a contraction in lending. Measured at the level of regions lending fell everywhere, across all nine regions in England as well as in Scotland and Wales.

The breakdown shows small businesses in London and the south-east are receiving a smaller proportion of lending than the size of the local sector would merit.

via Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza