July 3rd, 2018

A whopping 84 per cent of the country saw bank lending to SMEs plummet as small businesses continue to face huge headwinds in securing finance, says Hadrian’s Wall Capital (HWC), the London-based specialist debt adviser. 

HWC says that 101 of 120 areas of Great Britain saw net falls in the value of outstanding bank loans to SMEs last year, as banks continued to withdraw from lending to small businesses.

The total fall in lending amounted to 5.2 per cent, or £9.7 billion, in a single year.

The withdrawal of bank lending has even spread to what have been some of the best-performing parts of the UK economy, with the EC and WC postcodes in central London seeing falls of 23 per cent and 21 per cent respectively in just 12 months.

Only four areas – Crewe, Inverness, Norwich and Llandrindod Wells in rural central Wales – saw increases of more than 3 per cent in SME bank lending last year. HWC says all of these areas experienced a ‘bounce’, having suffered from cuts to bank lending in recent years.

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