Most SMEs Applying For Bank Credit are Successful – Say Bankers

Eight in ten small and medium-sized firms that applied to their bank for credit over the past 12 months were successful, according to a recent report by the British Bankers Association (BBA).

The report also found that two thirds of small and medium-sized businesses will not be applying for credit over the next three months, with many put off doing so by the current economic climate. The BBA said the figures suggest that while banks are in a position to lend, the current economic climate means that demand for finance is low.

Sc: British Bankers Association

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