Aldermore ranked third in list of Funding for Lending Scheme participants for lending to SMEs
Figures released by the Bank of England yesterday placed Aldermore third in a list of participants in the Funding for Lending Scheme (FLS).
Aldermore’s net lending to SMEs as part of the scheme in the first quarter of 2014 was £88m.
This continues the bank’s sustained increase in lending to UK SMEs. Aldermore’s total lending to SMEs last year (2013 calendar year) was up 53% to £1.69bn, compared with £1.1bn in 2012.
Commenting on the figures, Aldermore chief executive Phillip Monks said: “With the economic recovery taking shape it has never been more important to ensure continued lending to small businesses up and down the country. I am delighted that Aldermore is third in the list of net lenders in the Funding for Lending Scheme and that we are increasing our loan book, especially at a time when many are pulling back from the market.
“Banks need to focus on making it easier for SMEs to access finance and provide the essential support and customer service they need above and beyond simply providing funds. We are determined to continue to support SMEs and increase our lending in the coming year.”