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Business: Loans

Treasury written question – answered on 8th July 2014.

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Photo of Lindsay Roy Lindsay Roy Labour, Glenrothes

To ask the Chancellor of the Exchequer what recent assessment he has made of the level of bank lending to small and medium-sized businesses since May 2010.

Photo of Andrea Leadsom Andrea Leadsom The Economic Secretary to the Treasury

The Government has introduced measures to improve both bank and non-bank lending to businesses, such as the Funding for Lending Scheme, the British Business Bank and the Appeals Process.

Against this backdrop, gross lending to small and medium sized businesses in 2014 Q1 was almost 15% higher than in the same quarter a year earlier; and 32% of SMEs that have been through the Appeals Process have had their initial loan rejection overturned.

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