Bank loans to small businesses fell £2.2 billion short of their target for the first quarter of 2011 under the Project Merlin agreement, according to official figures. Loans to small and medium-sized enterprises (SMEs) from the Merlin banks totalled £16.8 billion for the first three months of this year, falling short of the £19 billion lending target set out in the Merlin agreement between the banks and the government.
The shortfall was attributed to a lack of demand from SMEs, according to a statement released by the British Bankers’ Association (BBA) on behalf of the banks signed up to Project Merlin.
No comments:
Post a Comment