New figures released by the Bank of England show that Aldermore was the second largest provider of lending to SMEs among participants in the government’s Funding for Lending Scheme during the fourth quarter of 2015.
In addition, annual data showed that the bank was the third largest lender during 2015 as a whole.
Aldermore’s net new lending to SMEs as part of the scheme during Q4 2015 was £157m. This continues the bank’s lending growth to UK SMEs, with the bank having lent a total of £421m through the FLS in 2015.
Carl D’Ammassa, group managing director for business finance, said: “The latest FLS data highlights our commitment to helping SMEs to grow and demonstrates the importance of newer lenders in financial services.
“While the borrowing environment for SMEs is definitely improving, a perception gap remains with many believing that providers will not be willing to support their aspirations. We know how important SMEs are to the continuing economic recovery, and it is imperative that banks focus on providing flexible finance as well as wider support in the form of understanding individual business needs and offering good customer service.”