Banking body BBA launches business funding campaign

BBA, the UK banking and financial services body, is attempting to increase business confidence over access to growth funding.

The organisation said just a third of Scottish SMEs expected to be granted funding despite actual approval rates for finance in the sector running at 67%.

“We want to let businesses in Scotland know that they are a lot more likely to get finance than they think,” BBA chief executive Anthony Browne said.

“This matters because more successful loan applications mean more orders for equipment, more new jobs and more plans to expand.

“Small businesses are the engine room of the economy and the research we publish shows how much stronger our recovery could be if more SMEs approached their banks for finance.”