SJD Accountancy

Increase in business lending is encouraging for Contractors

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Manchester-based finance provider the Co-operative Bank has revealed significant rises in its rate of business lending to corporates – clearly demonstrating the overall improvement in the market, which can only be good news for contractors. Since 2007 the bank’s business lending rate has seen growth of 40%, rising from £6.2 billion to £8.7 billion. Chief executive of the Co-operative Financial Services Neville Richardson said the figures highlighted the considerable emphasis his organisation put into building relationships with its enterprise clients, especially where they felt ‘abandoned’ by other lenders.

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