Small business boost as govt unveils one-year extension to funding scheme

clock

The Bank of England (BoE) and HM Treasury have announced a one-year extension to the Funding for Lending Scheme (FLS), with small to medium-sized businesses to continue to be the primary beneficiaries.

The extension will provide lenders with continued certainty over the availability of cheap funding to support lending to small and medium-sized enterprises (SMEs) during 2015, even in the event of stress in bank funding markets, the government said. The FLS, launched in 2012, was initially designed to improve credit conditions for households before incentives were re-focussed towards SMEs a year ago. The drawdown window for the FLS extension will now remain open until 29 January 2016. Current participants in the FLS extension will remain part of the scheme unless they choose to opt ou...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Adviser business owners upbeat as 80% report increased turnover

Adviser business owners upbeat as 80% report increased turnover

Two-thirds of IFAs predict higher profits in 2025 but many feeling regulatory pressure

Jenna Brown
clock 06 February 2025 • 2 min read
Vulnerability management: Consumer Duty all-important as consolidation continues

Vulnerability management: Consumer Duty all-important as consolidation continues

Will customer vulnerability management take over from AUM in 2025?

Andrew Gething
clock 05 February 2025 • 2 min read
Fairstone expands Scottish footprint with 336 Financial Management deal

Fairstone expands Scottish footprint with 336 Financial Management deal

Marking its 29th acquisition in two years

Sahar Nazir
clock 05 February 2025 • 1 min read