Lending to the private sector has fallen for the first time year on year for the Eurozon

Latest figures indicate that they are not lending as much as before although signs that the region’s economies have stabilised is a positive one and lending to households has increased in Septembers figures over August.

Unlike in the UK, which has not improved in the 3^rd quarter, the Eurozone is said to have improved.  

Lending to businesses has also declined but that has been blamed on companies cutting back and not looking to invest rather than on the banks not wanting to lend to small business, but guess who said that, yes the central banks president.

At www.localbusinessfinance.co.uk we cannot speak for European businesses yet but we do speak to UK businesses all the time and the story we keep hearing is that small businesses can’t get the finance they need to run day to day from UK banks. So it would be no surprise to us if this was the same in Europe.

If you are looking for small business finance contact us today.