BofE: Small businesses find going tough

Credit conditions for thousands of small business are getting worse not better, according to the Bank of England, which has pumped £125bn into the economy to mitigate the effects of recession.

The Bank of England stands amid the first green shoots of spring

But its quantitative easing programme has done little to stimulate lending to firms, which dropped £1.1bn in four weeks to £7.9bn a month.

Firms have borrowed £12.6bn since March, according to the BoE’s own figures.

Loan facilities worth a total of £5.8bn were also withdrawn from companies last month – the same level seen in April.
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