B&C can announce that Barclays has issued an exclusive £7 million extension for its broker network. Today, the loan cap for its broker offering jumped from £3 million to £10 million.

In an email to its broker base the bank states that this move comes: “As part of our commitment to supporting you, our broker partners to help grow your client base and support more SME’s in the UK get more access to finance.”

“We have introduced this exclusively to our broker network across all sectors apart from Real Estate until the end of 2014, at which stage we will review the offer.”

The bank clarifies that the broker fee will still be at 50 per cent of the arrangement fee.

Earlier this year B&C reported that Barclays joined forces with an alternative lender to offer loans of up to £120 million to some medium sized enterprises. This was one of Europe’s first collaborations of this kind.

In 2013 Barclays originated nearly 31 per cent of all SME loans in the UK, according to its website. This is thought to equate to around £37 million per working day.

This was despite the fact that the Bank of England’s data illustrated a fall in total UK SME lending by 6.2 per cent.

Barclays holds a team of 21 UK Business Development Managers, the bank has recently increased the numbers of its Barclays Business Managers by 5 per cent.

The bank offers business loans, commercial mortgages, business overdrafts and cashflow finance.