Bank support fails to help small business Goldman Sachs warns that cheap loan plan is failing to help as the number at risk of closure doubles in a year 30 January 2021 • 8:00pm The Bank of England has been urged to overhaul its misfiring scheme to boost small business lending as fears over a wave of insolvencies continue to grow. Take-up of cheap loans provided to lenders under the Bank’s Term Funding Scheme, introduced last March, has been “well below” available levels and failed to boost lending to small firms, according to Goldman Sachs. It said the scheme should be revamped at the Bank’s next policy meeting on Thursday after finding that higher usage of the Bank’s cheap funding did not lead to increased lending to small firms.