3rd September 2015

Bank support for SMEs – 2nd Quarter 2015

Key points:

  • Cash holdings continue to grow, reducing SME needs for bank finance. Deposit levels are growing by 9% annually and significantly exceed SME borrowing, by around £59 billion.
  • For those SMEs applying for bank finance, approval rates are around 80% for smaller businesses and 90% for medium-sized. The second quarter saw 31,500 loans approved for SMEs.
  • Medium businesses in particular are seeing an improving trend in new loans.