South East leads in bank loans to small businesses as other UK regions lag behind

Lending to businesses in the region surged, driving a 21% rise in approved loans and overdrafts across the UK in the first half of the year.

The British Business Bank noted that while lenders have shown greater caution towards loan approvals, businesses in the South East have managed to secure much-needed finance.

Louis Taylor, chief executive of the British Business Bank, said: 'To the extent that there is an increase in the provision of bank finance to small businesses, credit card growth is the largest...'

High interest rates and cautious lending have curbed borrowing in other regions, with the North East experiencing a 24% drop in the volume of loans.

Read at Business Matters