Small business lending 'rises in February' - commercial mortgages

06 April 2009

The flow of credit to small businesses was boosted during February, a new report has revealed.

Figures unveiled by the British Bankers' Association (BBA) have shown that in the month, lending to small firms rose by £211 million.

The increase - which may be good news for companies or businesspeople seeking commercial mortgages - was similar to the level seen in January, the BBA noted.

Commenting on the report, statistics director for the BBA David Dooks said: "Significant numbers of new small business relationships continue to be established, despite the current recession and regular reports of difficult business conditions."

He stated that the amount of deposits being made by firms had remained unchanged, reflecting the "slow trading environment" currently being experienced.

Recently, good work carried out by commercial lenders was recognised at the Business Moneyfacts awards, with Alliance & Leicester being named as Business Bank of the Year and Mortgages for Business being nominated in the buy to let category.

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