Wednesday, 4 July 2012

"Funding for Lending" scheme announced

The chairman of the Wiltshire branch of the Federation of Small Businesses (FSB) has welcomed a decision by the Bank of England to launch an £80bn ‘funding for lending’ scheme that could make it easier for firms to apply for loans.

The emergency measures, announced by Sir Mervyn King earlier this month, aim to boost business lending by giving banks cut-price funds provided they pass on the benefits to business customers.

It is hoped this will help avoid a second slump in the economy since the credit crunch in 2007.

Wiltshire FSB chairman Ian Dyer welcomed the move, which he said could benefit smaller firms.
Mr Dyer said: “This is quite specific, as opposed to quantitative easing. This is actually for businesses. Although the banks can’t lend to everyone, there’s people out there with a really good track record in business and they’re having a job to borrow money.”
Read the article in full taken from the This is Wiltshire