“From next year businesses will be able to see exactly where the major banks are lending — Up to within a few streets of their premises,”  was part of a  statement in the announcement that major UK banks are to reveal their lending data (voluntarily) across 10,000 postcode areas.

Claiming ‘a major step forward in terms of transparency’ which ‘should encourage competition by helping smaller lenders to identify gaps in the market and allowing businesses to hold their local bank to account where they aren’t lending.”

We look forward, at Step-Up Finance, to seeing what those numbers are, how they are ‘made up’ and what effects they reveal in altering restrictions to lending.

Image credit: Ian Burt  Article credit: Copyright SUF 2013