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Climate for credit is getting better, say SMEs

After Bank of England figures revealed that lending to SMEs in the UK had risen by £443m in October on a net basis, The Federation of Small Businesses in Scotland described the credit climate north of the border as 'markedly better, albeit from a low base'. While 48% of small businesses in Scotland had reported in the third quarter that the availability of credit was poor, this was down from more than 70% in the final three months of 2013. The FSB's third-quarter survey also showed that 37% of Scotland's small businesses felt that the affordability of credit was poor, although this was down from a figure above 70% recorded during the fourth quarter of 2013.

 

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