132 days ago • Posted by William Ramstein
SME loans soar in England-- defense sector leads dance
Research indicates rising lending to SME during the pandemic, even as the U.K. government opens the taps on further lending, and rising indebtedness could become an issue. The figures show sharp increases in bank lending to SMEs between December 2019 and December 2020. British Business Bank PLC said 45% of SMEs applied for external funding support in 2020 compared with 13% in 2019. UK Finance, who represents banks, said that 12% of SMEs were actively planning to apply for finance, while a further 23% expected to be seeking external finance in the future. It's a good time for banks!
Source: S&P 500