A plan initially announced back in June, which is likely to see small businesses and landlords among its beneficiaries, has now gone live.
Big gains for small businesses
The scheme sees the Bank of England agree to loan banks money at favourable interest rates as long as this money is passed on in the shape of consumer lending. Landlords and homeowners that can put down a large deposit, as well as small businesses looking to develop their organisation, are likely to see the biggest gains.
The Government announced the plan as a means to help increase the flow of money and improve the economic situation for home buyers and small business back in June.
The scheme, which obviously has the backing of the Bank of England, has now gone live and while the general reception for the scheme has been positive, the Federation of Small Businesses has exercised a degree of caution stating that the success of such schemes can only be judged over time.
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