Belfast Telegraph

Friday 26 December 2014

Factfile: Funding for Lending Scheme

The Funding for Lending Scheme was established last August to provide banks with cheap funding on the condition they pass on the money to hard-pressed small businesses and households.

Direct lending to small and medium-sized enterprises (SMEs) will attract a larger funding benefit. From 2014 banks will be able to draw down £5 (up from £1) of cheap loans for every £1 in net new lending to SMEs.

The Funding for Lending Scheme was established last August to provide banks with cheap funding on the condition they pass on the money to hard-pressed small businesses and households.

Direct lending to small and medium-sized enterprises (SMEs) will attract a larger funding benefit. From 2014 banks will be able to draw down £5 (up from £1) of cheap loans for every £1 in net new lending to SMEs.

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