The total amount borrowed from high street banks by small businesses has increased to over £287 million, according to recent figures released by the British Bankers Association.
It was revealed that over 48,000 new relationships (accounts) were established between small businesses and banks.
High street banks support for the smaller business continues to rise as the economy picks up with the number of new banking relationships showing that start up businesses are on the rise, despite the current climate.
The number of small businesses establishing relationships with high street banks was only 35,645 at the end of 2008, showing an increase of over 12,355 in the first half of this year.
