The Bank of England has seen credit supply and demand rise in the second quarter of 2015, based on findings taken in its credit conditions survey.
Demand for lending from small businesses increased significantly in Q2, while demand from large corporates also increased and was unchanged for medium-sized companies. Demand was expected to increase for each size of business in Q3.
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The availability of credit for SME’s in Q2 rose 19 percent in the second quarter, while the number of SME loans approved was up 26.6%.
British Banking Association chief economist Richard Woolhouse said: "It’s heartening to see that demand for lending from small businesses has increased significantly as this is a clear, positive sign that firms have the confidence to take on borrowing to invest and expand."
