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|Value Of SME Credit Applications Rejected By Banks In Q1 Rises 23% On The Year|
|Wednesday, 29 July 2015|
Fleximize, the SME alternative lender, estimates that between January and March 2015, banks rejected credit applications from SMEs, including loan and overdraft facilities, worth an estimated £1.36 billion. It believes this was around 23% higher than the £1.1 billion of SME credit applications rejected in Q1 2014 and 0.7% up on the previous quarter (Q4 2014).
Fleximize estimates that loan rejections totalled £1.09 billion in Q1 2015, or 24% higher than the £876m in Q1 2014. Fleximize also reveals that around £274m of overdraft applications were rejected in Q1 2015, which was 18% higher than in Q1 2014.
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