EEF NW comment on Funding for Lending figures

Commenting on today’s Funding for Lending data, David Ost, North West Region Director at EEF, the manufacturers’ organisation, said: “Today’s figures offer further nuggets of encouragement that the scheme is making a difference and, while still not definitive on the SME lending picture, conditions do appear to be easing relative to recent years.

"With indications that businesses’ investment intentions are strengthening, any evidence that FLS is helping with the cost and availability of finance for SMEs is coming at just the tight time.

“In addition, changes to the scheme to offer more incentives for increasing SME lending will hopefully be another spur to the investment recovery our economy desperately needs. But In the long run it’s a more dynamic and diverse funding environment that will make a lasting difference to the cost and availability of finance for small firms.”