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Annual change in lending to business in the United Kingdom 2013-2020

The ongoing economic effects caused by the Covid-19 pandemic have seen the Bank of England forced into quantitative easing measures. The injection of new money supply to kick start the economy has seen a huge increase in lending to businesses in March 2020.

The measure, which is taken after lowering the bank base interest rate to 0.1 percent on the 19th March 2020 has seen an annual change in loans to small and medium enterprises (SMEs) up approximately 17.4 percent as of June 2020.

Annual change in lending to enterprises in the United Kingdom (UK) from January 2013 to June 2020

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Release date



United Kingdom

Survey time period

January 2013 to June 2020

Supplementary notes

M4Lex as defined by the Bank of England is "M4 lending (M4L) excluding lending to intermediate other financial corporations (OFCs) (M4Lex) is a more economically relevant measure of credit than the headline measure of M4L."

The source included the following information "The M4 lending measure covers all private non-financial corporations, and includes both loans and securities. The data which provide a split between smaller and larger companies covers all loans non-financial businesses."

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