Commercial Property News

High street banks "provide bulk of lending" to business property owners

Entrepreneurs looking for a loan to purchase a business property could find high street banks provide suitable finances.

According to the British Bankers' Association (BBA), these financial institutions "provide the bulk of lending to UK businesses".

Some £6.8 billion was lent by high street banks last month and there is a currently a level of stability in loans for smaller firms, the BBA noted.

It is possible that a proportion of these funds enabled firms to rent or buy a commercial property outlet.

The comments follow the launch of a green paper from the Department for Business, Innovation and Skills, which aims to address the problem of accessing finance for many private-sector organisations.

Chancellor of the Exchequer George Osborne said: "Accessing finance continues to be a challenge for many British businesses."

Business secretary Vince Cable stated he has heard cases of businesses in difficulty around the UK, with many struggling to secure bank loans.

Posted by Suzannah TaylorADNFCR-2842-ID-19909249-ADNFCR

Tue, 27th Jul 2010

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