The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
Commenting on the publication of the Bank of England’s Q2 2015 Funding for Lending Scheme statistics, BBA Executive Director of Business Finance Irene Graham said:
“These new figures underline that banks are helping smaller businesses do what they do best – drive economic growth and create jobs.
“Banks are using the Funding for Lending Scheme to lower the cost of borrowing for businesses. This means that lenders are offering a range of highly competitive deals at a time when interest rates are already at a record low.
“Borrowers should feel confident about applying to their bank for finance. The SME Finance Monitor shows that nearly eight out of 10 businesses that applied for finance in the past 18 months were given the green light.”
Notes to Editors
The Funding for Lending Scheme Q2 2015 data is available here
SME Finance Monitor:
Note: The SME Finance Monitor research is based on 5,000 interviews of small and medium businesses conducted independently by BDRC-Continental each quarter. It assesses the attitudes and experience of the whole spectrum of SME businesses, from sole proprietors to small employers, to businesses with 250 employees, in their use of the whole range of external finance options (not just bank finance).
New lending is increasing
As new lending rises, businesses continue to repay loans
Cash held by businesses continues to rise
The cost of finance is falling
The majority of finance applications are approved
Mergers and acquisitions have boosted demand for lending
Credit Conditions Survey
The Bank of England’s Credit Conditions Survey 2015 Q2 can be downloaded here. Key quotes from the survey:
Over recent years the difficult economic climate has suppressed demand for finance:
Better Business Finance’s lending and appeals process campaign
Banks are working to increase access to alternative finance providers
Levels of alternative finance are growing
Supporting Britain’s entrepreneurs:
Under the industry-funded Better Business Finance programme, banks have introduced a broad range of initiatives to help support SMEs:
The BBA’s latest statistics Banks’ support for SMEs – 1st Quarter 2015 can be downloaded here.
The Funding for Lending Scheme Toolkit for Q1 2014 can be downloaded here.
* Note: contributors to the BBA’s regular datasets are Barclays, HSBC, Lloyds Banking Group (including HBOS), National Australia Bank UK (Clydesdale, including Yorkshire Bank), Royal Bank of Scotland Group (including NatWest), Santander and The Co-operative Bank.
** Note: The SME Finance Monitor research is based on 5,000 interviews of small and medium businesses conducted independently by BDRC-Continental each quarter. It assesses the attitudes and experience of the whole spectrum of SME businesses, from sole proprietors to small employers, to businesses with 250 employees, in their use of the whole range of external