WHY SMES STILL FACE CHALLENGES TO ACCESS FINANCE FROM BANKS
April 11th, 2017.



CYBG PLC, the owner of Clydesdale and Yorkshire Banks, is making a minimum of £6 billion of lending available from 2017 to 2019 to help fuel the growth of small and medium-sized businesses in the UK. The Bank’s long-term commitment to lending includes significant amounts of finance available across the UK economy through 2017:


£1 billion available to support the day-to-day finance needs of SMEs.

£350 million targeted at providing facilities for medium sized businesses seeking finance for growth

Up to £200 million in lending available to SMEs in the agriculture sector supporting the UK’s rural economies.

£650 million available to support our other key sectors that provide lending for major property purchases, financial services and the UK’s industrial base.

The commitment comes as new research conducted on behalf of CYBG, suggests that 35 per cent of SMEs continue to find accessing finance from banks a challenge. In addition, 9 per cent of SMEs said that accessing finance is either very difficult or almost impossible.

The survey also reveals that SMEs identified an increase in the availability of finance as the most important factor in their region which could help them grow and prosper, with 41 per cent of SMEs say it is the most important development in their region.


For the full story at smallbusiness.co.uk CLICK HERE