By Claire West
There is outstanding structured-term lending of over £45bn for more than half a million small businesses in the UK. In addition, their overdraft borrowing stands at £8bn.
BBA statistics director, David Dooks, said of the latest data:
"Comparing the stocks of lending to, and deposits from, small businesses is interesting. While there is new structured-term lending of half a billion pounds each month, offsetting repayments from businesses mean that the stock level sees little change from month to month. By contrast, the sector continues to build a level of cash deposits in excess of the sector’s total borrowing. The summer months usually see fewer loans applied for and sanctioned, but this year has seen a stable monthly trend of around 10,000 new loans granted."