Business Banking
Go-between needed to reconnect banks and business, says FSB
Small businesses need a go-between to help rebuild ailing relationships with the banks and revive the flagging economy, latest figures from the Federation of Small Businesses (FSB) show.
Santander to develop UK SME business
As part of Santander's plans to develop its UK SME business, Alliance & Leicester will join the Enterprise Finance Guarantee Scheme from 6 March and Abbey has applied to participate in the European Investment Bank's (EIB) €15 billion fund, which it has set aside to help SMEs throughout Europe, at an initial level of £100 million.
Bank lending to small businesses rises in January
The level of banks' lending to small businesses rose by £235mn to £54.2bn in January, according to new figures from the British Bankers' Association.
Cash flow concerns grow for UK firms as late payments bite
Nearly a third (29 per cent) of small and medium sized companies (SMEs) reported cash flow problems in the second half of 2008, with 70 per cent citing late payment of invoices as the primary factor, according to research by Lloyds TSB Commercial.
Lloyds TSB reiterates pledge to cut rates for small businesses
Lloyds TSB pledged today to pass on, in full, any base rate cut announced this week, to all its small business customers with variable rate loans and overdrafts.
Barclays launches new initiative to help UK businesses
Barclays Commercial Bank today launches a new initiative to assist its 81,000 business clients in battling recession.
Alliance & Leicester extends commitment to small businesses
Alliance & Leicester Commercial Bank has announced that it plans to increase its total lending to small business customers by over a quarter in 2009. This follows record lending from the bank in 2008, which saw total small business lending balances increase by 49 per cent.
Banks are backing small businesses
UK banks are helping more small businesses new government figures reveal today. The British Bankers' Association said information released by Lord Mandelson today, five weeks after the introduction of the Enterprise Finance Guarantee scheme, show that £40 million pounds of business loans have been offered by banks under the EFG, proving that banks are keen to lend to viable small businesses.
SMEs turn to family and friends for funding
Over 540,000 SMEs across the UK are turning to family and friends for cash rather than the banks - six times as many as when polled in early 2008 - according to research from Close Invoice Finance, part of the FTSE 250 merchant banking group Close Brothers Group plc.
Abbey Business Banking launches market leading time deposit
Abbey Business Banking has launched a market leading Time Deposit with a great rate 2.6 per cent, with a six month term.
NatWest and RBS announce £3 billion extra funding for SMEs
NatWest and RBS announce that they are to make an additional £3bn funding available to SMEs in 2009. This further commitment to the SME sector will be delivered through twelve Regional SME Funds in England, Wales and Scotland.
Lloyds makes joint base rate pledge to small businesses
Lloyds Banking Group has announced it will pass on, in full, any Bank of England base rate cut, resulting from this month's Monetary Policy Committee (MPC) meeting, to all its small business customers with variable rate loans and overdrafts.
Banks are still open for business, just don’t expect it to be easy
The Government has already bailed the UK banking system out to the tune of £37 billion and is now poised to inject hundreds of billions more in an attempt to get banks lending again so it's no surprise that region's SMEs have all but given up hope of getting the credit they need from local banks.
Standard Life Bank announces competitive fixed rate Business Bond
In the wake of further Bank of England base rate cuts, Standard Life Bank has announced a competitive fixed rate bond to help businesses make their money work harder.
Lloyds TSB passes on base rate cut to SMEs
Lloyds TSB has announced it is passing on, in full, today's 0.5 per cent Bank of England base rate cut to all its small business customers with variable rate loans and overdrafts.