Flint Insurance, Simple
Flint Personal
Car Insurance
Home insurance
Flint Trades
Prestige Car Insurance
High Value Home Insurance
Flint Business
Motor Trade Insurance
HGV insurance
Flint Trades
Flint Trades
Employers Liability
Professional Indemnity
Customer Satisfaction In 2014 Flint Insurance surveyed existing customers to rate the overall standard of service they received from us, 98% of 3800 people surveyed rated Flint's services as extremely good.
It's nice to know we deliver a premium level of customer satisfaction to our clients, we work hard at Flint to make sure you get the insurance service you require for your everyday needs.
Insurance News

Insurance News, brought to you by Flint Insurance


Funding for Lending Scheme Extension Aimed at SMEs

Published: 28/05/13

The Bank and HM Treasury launched the Funding for Lending Scheme (FLS) on 13 July 2012. It was designed to incentivise banks and building societies to boost their lending to the UK real economy.
Towards the end of last month the Bank announced its decision to extend the scheme, so that drawings can be permitted until 31 January 2015.

The £80 billion scheme - which offers incentives to banks to increase the amount they lend to both businesses and households – will continue with greater emphasis on lending towards small and medium sized enterprises (SMEs).
Banks will also be given greater allowances to incentivise lending, while other banks and institutions such as creditors will also be eligible to join the scheme.

Announcing the extension, the Bank said there had been more lending than there would have been without the scheme since its launch in August last year. "But the improvement in credit conditions since summer 2012 has been less marked for small and medium sized enterprises (SMEs) than for larger businesses and households," it said.
The Bank continued “…the incentives to boost net lending will be heavily skewed towards SMEs. New allowances for drawings in the extension period will be calculated on the basis of banks’ lending behaviour.
“For every £1 of net lending to SMEs in 2014, banks will be able to draw £5 from the scheme in the extension period. And to encourage banks to lend to SMEs sooner rather than later, every £1 of net lending to SMEs during the remainder of 2013 will be worth £10 of initial borrowing allowance in 2014. “

The move has been widely expected since it was announced in the Chancellor's March Budget; following criticism that it has failed to increase lending to small businesses as was intended.
Key facts about the FLS:

  • The scheme offers incentives to institutions that increase the amount they lend
  • The scheme will be extended by one year until January 2015
  • The incentives will now be 'heavily skewed' towards SMEs
  • The type of eligible institutions will be extended to include certain creditors
  • Every £1 lent to SMEs in 2014 will enable banks to draw a further £5 from the scheme
  • Every £1 lent to SMEs for the remainder of 2013 will enable banks to draw £10 from the scheme in 2014.


News Archive »

RSS News Feed
To subscribe to our RSS feed click here »

View the complete range of our Commercial Insurance products »

Call me backCall Me Back
To find out more about any Flint Insurance product, or to get a quote: Request a call back » One of our advisors will call you back at a time to suit you.
Authorised and regulated by the Financial Services Authority
Goods in Transit Lorry Insurance Fleet Insurance Commercial Insurance Buy to let Insurance Engineering insurance
Flint Insurance Sitemap Contact us Insurance News Company Vision Claims Renewals About us