Businesses in Yorkshire are more likely to get a loan or an overdraft from their bank than those in many other regions, according to a new survey of more than 20,000 UK firms.

The British bankers’ Association SME Finance Monitor shows that 73 per cent of Yorkshire businesses made successful applications for finance in 2013, compared with a national average of 67 per cent. Nationally, only 38 per cent of businesses planning to apply for finance believe that they will be successful.

The research also shows that businesses who secure a loan are more likely to innovate, work internationally, grow and make a profit.

Anthony Browne, BBA chief executive, said: “It’s great to see that businesses in Yorkshire are having real success when approaching their banks for business finance. This matters because more successful loan applications mean more innovation, more new jobs and more plans to expand.”