business bank lending

Bank Lending Improving in the Manufacturing Sector

Bank lending to manufacturing firms improved in April and May for the first time since the end of the recession, manufacturing organisation the EEF has said. The EEF survey of 500 small manufacturing firms found that the same number of businesses reported a rise in bank lending in April and May, as reported a fall. In comparison, in February and March more firms saw a drop in access to credit than an increase. The findings come despite reports that UK banks are failing to deliver on their lending targets to small firms under the Project Merlin agreement (PDF). Recent figures from the Bank of England (BoE) highlighted that the top five UK banks loaned £16.8 billion to small firms in the first three months of 2011 ? despite a target of £19 billion per quarter under Project Merlin... »