The access of high street banking finance seems to be improving for small business insurance customers, it has been suggested.
Sophie Kummer, senior press officer at the Federation of Small Businesses, noted that the organisation's members believed that the cost of loans had risen over recent months, despite lower interest rates being set by the Bank of England.
However, the representative suggested that "the picture now seems to be changing", with the Enterprise Finance Guarantee scheme approving around £20 million in loans a day to small business insurance holders.
She commented: "It does seem that that money is dripping through and the banks are beginning to pick up again."
Furthermore, Ms Kummer highlighted the fact that around £220 million has already been issued to small business insurance customers through the Enterprise Finance Guarantee programme since its start.
Last week, the British Bankers Association revealed that there was a five per cent increase on the amount lent to small firms in March when compared to the year before, amounting to an extra £881 million.
