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Aldermore comments on the Funding for Lending Scheme

POSTED: 25th April 2013
IN: Newsroom
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Aldermore, Britain's leading challenger bank, welcomes the announcement from the Bank of England this morning that the Funding for Lending Scheme (FLS) will be extended to encourage further lending to SMEs.

Aldermore has always been a strong supporter of the FLS and in the fourth quarter of 2012 was the 6th largest net lender of all FLS participants. Aldermore's use of the FLS has allowed the Bank to expand SME lending, with 75% of total FLS lending being directed towards SMEs.

The UK economy needs banks that are willing to lend and for a bank that only started operating in 2009, having one of the highest net lending figures is testament to Aldermore's commitment to supporting British SMEs and households.

Aldermore's mission is to get much needed funding to where it is needed - and is doing just that by increasing lending at a time when the largest UK banks are dramatically scaling back.

Aldermore's total SME lending is currently £1.2 billion.

 

**Ends**

 

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