According to new data, there has been a £698m fall in bank lending to non-financial businesses in July, in the wake of reports that the European Investment Fund (EIF) and European Investment Bank (EIB) are withholding funds from the UK. Speaking on the figures, Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “A botched withdrawal from the EIF and EIB would turn a currently mixed outlook into a decidedly bleak one. We need to see small firms confident to apply for finance for growth, with the Government clearly mapping out what will eventually replace the half a billion pounds of EIF support received in recent years.