small business banking

Muted Reaction to New Credit-easing Strategy

Business groups have given the Government’s latest credit-easing scheme a lukewarm reception. The “funding for lending” scheme unveiled by the Chancellor of the Exchequer George Osborne and Bank of England Governor, Sir Mervyn King, is intended to encourage the UK’s banks to lend to small businesses and could support up to £80bn of new loans. Under the new scheme, dubbed “plan B” by some, high street banks will be able to temporarily swap assets, such as mortgage books, with the Bank of England, in return for cash that can be used to offer new loans to customers including small firms. In addition, an emergency liquidity scheme will run for six months to make £5bn available to banks each month so that they can provide credit to SMEs. However, business gro... »

Business Bank Accounts – The Basics

At Lloyds TSB Commercial, our business bank account is designed to help you start up and set out on your business journey. Why is my business bank account so important? Time is precious when starting up a business, so it’s important to have the right bank account in place to support the day-to-day banking needs of your business. It also means you’ll be in a stronger position when it comes to maintaining your records or doing your year-end returns. What we offer our business banking customers We understand how daunting starting your own business can be, that’s why we have Local Business Managers in our branches to support you, a range of free guidance services to get you off on the right foot, and 18 months free day-to-day business banking*; so you can spend less time worr... »

Project Merlin: Business Lending Hasn’t Stalled

The Government has denied reports that negotiations with the UK’s main banks to improve lending to small firms have stalled. As previously reported (Small Business Lending Deal Stalls) the banks have apparently delayed an agreement to lend £200 billion to small businesses in 2011. Reports claim that bank bosses have argued that the lending target is not in the best interest of their shareholders. However, the Department for Business, Innovation & Skills (BIS) denied that the banks were holding out on the discussions, known as “Project Merlin”, saying no lending targets had yet been agreed. “Absolutely nothing has been agreed – the banks haven’t stalled.” said BIS spokesman, Miles Erwin. “The banks have made a proposal on lending and we’re discussing this with them. &l... »

Small Business Bank Lending Deal Stalls

A deal between the coalition government and the UK’s top banks on lending to small businesses has stalled, according to a report by the BBC. "Project Merlin" was supposed to see Britain’s four biggest banks (RBS, Barclays, HSBC and Lloyds) increase lending to small business with bankers showing restraint in the payment of bonuses, particularly at Royal Bank of Scotland and Lloyds which are 84% and 41% "taxpayer owned" respectively. The deal was expected to be confirmed in the forthcoming week with lending to SMEs to increase by around 10% in 2011. The total of small business lending was estimated to be in the region of £200bn and it was anticipated that the government might be lenient on banking bonuses if the big four were to simply increase business lendin... »

Small Business Banking: Lending Continues to Fall

Today the Bank of England released its quarterly Trends in Lending statistics. The report revealed that the stock of lending to UK businesses contracted by around £5 billion in the three months to November. However, a contraction in September and October 2010 was partially offset by an increase in November, the first positive net figure for lending since February 2010. James Meekings, co-founder of Funding Circle, the innovative online social lending marketplace, had this to say about the latest figures: “These figures are another deafening blow to the banks’ claims that they are lending. Look even closer and you will see how situation is getting worse for small businesses – the stock of lending is falling faster and the interest rates being charged are putting them off applying for ... »

Another Small Business Banking Pledge – Santander

Santander’s new UK CEO, Ana Patricia Botin, had a trial by fire as she took up the reigns of the UK arm of the Spanish banking giant. Ms Botin, Britain’s first female bank boss, stood before the Treasury Select Committee in her inaugural public appearance, telling MPs that one of her top priorities was to improve customer service. In a recent Which? report, Santander was polled as Britain’s most complained-about bank, backed up by data from the Financial Services Authority (FSA), with around 216,158 complaints in the first half of 2010. After aggressive takeovers of Abbey, Alliance & Leicester and the Bradford & Bingley brands in recent years, Santander found itself struggling to integrate the separate banking houses and as a result customer service suffered as a ... »

Small Business Banking Revival to Start in Yorkshire?

With recent reports of small business loan approvals having halved since 2007 it’s good to see that one bank is actually taking an interest in reversing this trend. Yorkshire Bank is looking to expand its small business banking services at a time when other banks appear to be deserting the country’s High Streets, according to a report in yesterday’s Yorkshire Post. In addition the bank is also expecting to see a rise in the number of start-up businesses. Gary Lumby, the director of small business banking at Yorkshire and sister bank Clydesdale, sees the future of small business support is still uncertain with Government plans seemingly not finalised and he thinks the role of Local Enterprise Partnerships still remain unclear. With this in mind Yorkshire and Clydesdale Ban... »

Small Business Banking – Online Business Banking

For the busy small business owner being able to conduct your business banking online is a must. Entrepreneurs who work weekends and "out of hours" often need to rely on their bank to offer online business banking tools. Here, we list a number of UK banks that offer online business banking for SMEs. Aldermore Set up in 2009 Aldermore is a well-capitalised and fast-growing online-only bank Bank of Scotland Online Business Banking Business Moneyfacts magazine’s Best Online Banking Provider 2009 – Corporate Online and 24/7 Internet Banking. Barclays Online Business Banking Makes it easier to keep control of your cashflow whether day-to-day banking or checking an invoice. The Co-operative Online Bank Business Banking FSB Business Banking, Community Directplus and Business ... »

Small Business Banking – The List of Banks

Business bank accounts differ from regular current or savings accounts. Offering services such as online banking, foreign exchange policies and payment/collection options, small business banking is the most appropriate option for UK SMEs. Whether you’re a sole trader or a medium-sized enterprise, there are a number of banks offering business banking. Below is a list of small business banking services offered in the UK. Aldermore Launched in 2009 Aldermore is one of Britain’s new "challenger banks" and is focused on helping British SMEs. Bank of Scotland Business Banking Offering free 18 months day-to-day banking, free guidance & support, free Sage planning software. Barclays Business Banking Your own Local Business Manager, choice of start-up packages, free local ... »

Page 1 of 212