Barclays is launching a series of business lending clinics in the Midlands designed to bolster business lending by getting small businesses to think about borrowing and give them the confidence to invest for growth. 

The clinics launch as recent statistics show that only 15 per cent* of businesses applied for borrowing in the last year, reflecting a crisis of confidence among businesses. The research also reveals that while 42 per cent of businesses think they will get a business loan before they apply, 75 per cent actually succeed, indicating that many businesses don't believe they can get finance.

Barclays business people will answer key questions on lending and walk businesses through the loan application process, with alternative finance providers on-hand to provide a fully rounded picture of all the financial options available. At the same time, local businesses will have the opportunity to tackle senior bank leaders head-on about the barriers to borrowing that they feel they face. 

Barclays continues to lend and approves a new loan every four minutes, and in the first six months of the year committed over £7bn in lending to UK SMEs. At the same time, the balance of deposits held in SME's current accounts increased significantly suggesting a lack of confidence by businesses to invest.

Jeremy Stockdale, Head of Barclays Business in the Central region says, "Research shows that half of SMEs are planning for growth, but are reluctant to approach their banks for finance. As small businesses play a major part in driving both local and national economic growth, it is vitally important they feel confident to lend from banks.

"Barclays is fully committed to supporting small enterprises in the Midlands and are very much open for business. We would like to encourage any small business owners looking for advice and support on growth and lending to come along to one of our lending clinics and see how they can get fit for finance."

Barclays is committed to helping SMEs in this difficult climate. In addition to the lending clinics Barclays is also increasing its 1,700 strong team of business relationship managers by five per cent. This year Barclays has held over 75,000 meetings with our business customers, supported the start-up of over 50,000 businesses.

For the clinics Barclays branches will open their doors outside of normal opening hours. For further information on this and other clinics in the region visit www.barclays.co.uk/businesslendingclinicswww.barclays.co.uk/businesslendingclinics

* Source: SME Finance Monitor, carried out by BDRC Continental, surveying 5,000 businesses, published July 2011.