Bank lending to small businesses in southeast England has recovered strongly, with the rest of the UK lagging behind, research from British Business Bank shows.
The jump in the South East helped the rate for approvals across the country to rise 21 per cent in the first half of the year compared with the same period last year, entering positive territory for the first time since the pandemic, the data suggested.
The major banks had begun approving more loans and overdrafts for businesses in the region last year, with rates rising 10 per cent in 2023. This rise contrasted with a 9 per cent fall in approvals for the whole of the UK last year, including sharp falls in the North East and Wales.
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