LLOYDS COMMITS £1.3BN TO SUPPORT NORTH WEST BUSINESS GROWTH
Lloyds Banking Group has announced plans to lend up to £1.3bn to companies across the North West of the UK this year.
The money is part of a wider £18bn pledge to the UK and will support entrepreneurs looking to start a business, support micro-businesses seeking to scale-up and aid smaller firms who are considering trading internationally for the first time..
It will also back mid-sized and larger, multinational corporations seeking further expansion and growth.
Nick Williams, Lloyds Banking Group’s ambassador for the North West, said:
“The North West is one of the top regional contributors to UK PLC and we want to support the businesses delivering this growth. Up to £1.3bn of lending will help the region’s firms to access investment and realise their ambitions.
“Here at Lloyds Banking Group, we’re by the side of business and as part of our plan to help Britain prosper we’ll support those that need advice or a capital injection – be it to expand into new international markets, overcome recruitment challenges or improve productivity.”
Last year the group launched successful initiatives including a £50m fund to support small businesses within the Carillion supply chain and a £500m growth fund to help companies invest in equipment designed to improve their productivity.
Lloyds Banking Group has also established a £500m fund for housing associations, supporting the government’s pledge to build 300,000 houses each year by the middle of the next decade.