British business lending grows in August
(30 September 2015 – United Kingdom) Following an increase in confidence and economic gowth, bank lending to UK businesses rose in last month.
Non-financial companies borrowed £15.9 billion (A$34.4 billion) from banks in August, a £1.1 billion increase from the same time in 2014, as lenders increased their willingness to offer business loans.
Small businesses borrowed an additional £233 million in the month, while big companies across Britain took out loans worth £1.1 billion.
Howard Archer, an economist at HIS Global Insight told The Telegraph: “It is vitally important for the UK’s ability to generate sustained balanced growth and to lift productivity that all companies who are in decent shape and who do want to borrow can do so, and at a non-punishing interest rate,”
"A number of business have been upgrading or replacing capacity and investing in processes aimed at cutting costs and boosting efficiency, and there could well be a mounting need to add capacity over the rest of 2015 and during 2016," he said.
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