Bank lending continues to rise

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According to the latest BBA statistics, lending to small businesses by the high street banks rose by £287 million in April.

BBA also reported that over 48,000 new small businesses banking relationships were established in April. Deposits from small businesses rose by £119 million.

Commenting on the data, BBA statistics director, David Dooks, said: “The high street banks’ support for the small business sector continues to rise. The net increase of £287m in April’s lending was consistent with the trend in recent months and the number of new banking relationships shows that the start-up rate is holding up, despite the economic environment. Business liquidity improved as deposits saw another monthly rise, above the increase in overdraft balances.”

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